Loan Comparison: 2.98% vs 6.5%
7872 Glasgow, Littleton, CO 80128 · 2bd/3ba · $290,000
List Price
$290,000
Assumable Rate
2.98%
Remaining Balance
$238,826
Equity Gap
$87,373
Loan Type
FHAAdjust Your Scenario
$14,500
$14,500$87,373
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (FHA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 2.98% + gap loan
$1,565/moAssumed loan: $1,004/mo
Gap financing: $560/mo
$177less per month with the assumable
Your Savings on This Property
7872 Glasgow, Littleton · 2.98% FHA vs 6.5% conventional
$177
per month
$2,120
per year
$63,609
over 30 years
$99,808
interest saved
How gap financing works: The equity gap ($87,373) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($72,873 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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