Loan Comparison: 3.08% vs 6.5%
12348 Dorado, Littleton, CO 80127 · 3bd/2ba · $305,000
List Price
$305,000
Assumable Rate
3.08%
Remaining Balance
$240,944
Equity Gap
$64,055
Loan Type
FHAAdjust Your Scenario
$15,250
$15,250$64,055
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 3.08% + gap loan
$1,402/moAssumed loan: $1,026/mo
Gap financing: $375/mo
$430less per month with the assumable
Your Savings on This Property
12348 Dorado, Littleton · 3.08% FHA vs 6.5% conventional
$430
per month
$5,159
per year
$154,762
over 30 years
$154,761
interest saved
How gap financing works: The equity gap ($64,055) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($48,805 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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