Loan Comparison: 2.77% vs 6.5%
7480 Harrison, Littleton, CO 80122 · 5bd/4ba · $879,000
List Price
$879,000
Assumable Rate
2.77%
Remaining Balance
$554,112
Equity Gap
$373,708
Loan Type
FHAAdjust Your Scenario
$43,950
$43,950$373,708
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 4.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,278/moAssumable @ 2.77% + gap loan
$4,804/moAssumed loan: $2,268/mo
Gap financing: $2,536/mo
$475less per month with the assumable
Your Savings on This Property
7480 Harrison, Littleton · 2.77% FHA vs 6.5% conventional
$475
per month
$5,695
per year
$170,835
over 30 years
$219,655
interest saved
How gap financing works: The equity gap ($373,708) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,950, 5% of purchase price) and a second mortgage for the rest ($329,758 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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