Loan Comparison: 2.99% vs 6.5%
7988 Adams Fork, Littleton, CO 80125 · 4bd/4ba · $850,000
List Price
$850,000
Assumable Rate
2.99%
Remaining Balance
$498,087
Equity Gap
$351,913
Loan Type
FHAAdjust Your Scenario
$42,500
$42,500$351,913
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (FHA)
Blended Rate: 5.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.99% + gap loan
$4,476/moAssumed loan: $2,097/mo
Gap financing: $2,379/mo
$628less per month with the assumable
Your Savings on This Property
7988 Adams Fork, Littleton · 2.99% FHA vs 6.5% conventional
$628
per month
$7,531
per year
$225,922
over 30 years
$225,922
interest saved
How gap financing works: The equity gap ($351,913) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($309,413 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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