Loan Comparison: 3.45% vs 6.5%
8102 Carr, Littleton, CO 80128 · 4bd/3ba · $720,000
List Price
$720,000
Assumable Rate
3.45%
Remaining Balance
$355,065
Equity Gap
$364,147
Loan Type
FHAAdjust Your Scenario
$36,000
$36,000$364,147
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,323/moAssumable @ 3.45% + gap loan
$4,108/moAssumed loan: $1,585/mo
Gap financing: $2,523/mo
$216less per month with the assumable
Your Savings on This Property
8102 Carr, Littleton · 3.45% FHA vs 6.5% conventional
$216
per month
$2,588
per year
$77,642
over 30 years
$76,854
interest saved
How gap financing works: The equity gap ($364,147) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,000, 5% of purchase price) and a second mortgage for the rest ($328,147 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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