Loan Comparison: 2.96% vs 6.5%
5101 Washington, Littleton, CO 80121 · 2bd/2ba · $475,000
List Price
$475,000
Assumable Rate
2.96%
Remaining Balance
$389,880
Equity Gap
$100,940
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$100,940
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.96% + gap loan
$2,229/moAssumed loan: $1,635/mo
Gap financing: $594/mo
$623less per month with the assumable
Your Savings on This Property
5101 Washington, Littleton · 2.96% FHA vs 6.5% conventional
$623
per month
$7,480
per year
$224,399
over 30 years
$240,219
interest saved
How gap financing works: The equity gap ($100,940) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($77,190 at 8.5%). Even with two payments, the blended cost is typically much lower than a new conventional loan. We work with lenders who specialize in assumption gap financing.
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