Loan Comparison: 3.88% vs 6.5%
7474 Logan, Littleton, CO 80122 · 3bd/3ba · $517,000
List Price
$517,000
Assumable Rate
3.88%
Remaining Balance
$353,578
Equity Gap
$202,035
Loan Type
FHAAdjust Your Scenario
$25,850
$25,850$202,035
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.88% (FHA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,104/moAssumable @ 3.88% + gap loan
$3,018/moAssumed loan: $1,664/mo
Gap financing: $1,355/mo
$86less per month with the assumable
Your Savings on This Property
7474 Logan, Littleton · 3.88% FHA vs 6.5% conventional
$86
per month
$1,032
per year
$30,969
over 30 years
$69,582
interest saved
How gap financing works: The equity gap ($202,035) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,850, 5% of purchase price) and a second mortgage for the rest ($176,185 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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