Loan Comparison: 3.07% vs 6.5%
6712 Holland, Littleton, CO 80128 · 3bd/2ba · $375,000
List Price
$375,000
Assumable Rate
3.07%
Remaining Balance
$332,273
Equity Gap
$42,727
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$42,727
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.07% + gap loan
$1,598/moAssumed loan: $1,413/mo
Gap financing: $184/mo
$654less per month with the assumable
Your Savings on This Property
6712 Holland, Littleton · 3.07% FHA vs 6.5% conventional
$654
per month
$7,847
per year
$235,414
over 30 years
$235,414
interest saved
How gap financing works: The equity gap ($42,727) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($23,977 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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