Loan Comparison: 3.69% vs 6.5%
7881 Canvasback, Littleton, CO 80125 · 3bd/4ba · $639,000
List Price
$639,000
Assumable Rate
3.69%
Remaining Balance
$336,668
Equity Gap
$304,536
Loan Type
FHAAdjust Your Scenario
$31,950
$31,950$304,536
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 5.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,837/moAssumable @ 3.69% + gap loan
$3,644/moAssumed loan: $1,548/mo
Gap financing: $2,096/mo
$193less per month with the assumable
Your Savings on This Property
7881 Canvasback, Littleton · 3.69% FHA vs 6.5% conventional
$193
per month
$2,320
per year
$69,587
over 30 years
$71,791
interest saved
How gap financing works: The equity gap ($304,536) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,950, 5% of purchase price) and a second mortgage for the rest ($272,586 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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