Loan Comparison: 5% vs 6.5%
6000 Canyon, Littleton, CO 80128 · 4bd/2ba · $600,000
List Price
$600,000
Assumable Rate
5%
Remaining Balance
$29,318
Equity Gap
$617,464
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$617,464
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (FHA)
Blended Rate: 8.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 5% + gap loan
$4,674/moAssumed loan: $157/mo
Gap financing: $4,517/mo
Your Savings on This Property
6000 Canyon, Littleton · 5% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($617,464) 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 ($587,464 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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