Loan Comparison: 2.68% vs 6.5%
6303 Prescott, Littleton, CO 80120 · 4bd/2ba · $599,000
List Price
$599,000
Assumable Rate
2.68%
Remaining Balance
$467,316
Equity Gap
$181,910
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$181,910
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 2.68% + gap loan
$3,059/moAssumed loan: $1,890/mo
Gap financing: $1,168/mo
$538less per month with the assumable
Your Savings on This Property
6303 Prescott, Littleton · 2.68% FHA vs 6.5% conventional
$538
per month
$6,454
per year
$193,625
over 30 years
$243,851
interest saved
How gap financing works: The equity gap ($181,910) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($151,960 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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