Loan Comparison: 2.96% vs 6.5%
1665 Progress, Littleton, CO 80120 · 3bd/2ba · $600,000
List Price
$600,000
Assumable Rate
2.96%
Remaining Balance
$376,783
Equity Gap
$222,377
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$222,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 2.96% + gap loan
$3,060/moAssumed loan: $1,580/mo
Gap financing: $1,479/mo
$543less per month with the assumable
Your Savings on This Property
1665 Progress, Littleton · 2.96% FHA vs 6.5% conventional
$543
per month
$6,518
per year
$195,537
over 30 years
$194,697
interest saved
How gap financing works: The equity gap ($222,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($192,377 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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