Loan Comparison: 5.23% vs 6.5%
8304 Stonybridge, Littleton, CO 80126 · 2bd/3ba · $440,000
List Price
$440,000
Assumable Rate
5.23%
Remaining Balance
$344,870
Equity Gap
$95,129
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$95,129
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 5.23% + gap loan
$2,462/moAssumed loan: $1,900/mo
Gap financing: $562/mo
$180less per month with the assumable
Your Savings on This Property
8304 Stonybridge, Littleton · 5.23% FHA vs 6.5% conventional
$180
per month
$2,156
per year
$64,667
over 30 years
$64,666
interest saved
How gap financing works: The equity gap ($95,129) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($73,129 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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