Loan Comparison: 4.01% vs 6.5%
1691 Canal, Littleton, CO 80120 · 2bd/2ba · $380,000
List Price
$380,000
Assumable Rate
4.01%
Remaining Balance
$180,850
Equity Gap
$198,701
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$198,701
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.01% (FHA)
Blended Rate: 6.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 4.01% + gap loan
$2,246/moAssumed loan: $864/mo
Gap financing: $1,382/mo
$36less per month with the assumable
Your Savings on This Property
1691 Canal, Littleton · 4.01% FHA vs 6.5% conventional
$36
per month
$427
per year
$12,806
over 30 years
$12,357
interest saved
How gap financing works: The equity gap ($198,701) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($179,701 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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