Loan Comparison: 3.1% vs 6.5%
9509 Coal Mine, Littleton, CO 80123 · 2bd/1ba · $335,000
List Price
$335,000
Assumable Rate
3.1%
Remaining Balance
$253,027
Equity Gap
$81,443
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$81,443
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 3.1% + gap loan
$1,578/moAssumed loan: $1,080/mo
Gap financing: $497/mo
$434less per month with the assumable
Your Savings on This Property
9509 Coal Mine, Littleton · 3.1% FHA vs 6.5% conventional
$434
per month
$5,204
per year
$156,116
over 30 years
$155,586
interest saved
How gap financing works: The equity gap ($81,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($64,693 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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