Loan Comparison: 2.83% vs 6.5%
5264 Prescott, Littleton, CO 80120 · 4bd/2ba · $475,000
List Price
$475,000
Assumable Rate
2.83%
Remaining Balance
$313,109
Equity Gap
$173,933
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$173,933
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.83% + gap loan
$2,446/moAssumed loan: $1,292/mo
Gap financing: $1,155/mo
$406less per month with the assumable
Your Savings on This Property
5264 Prescott, Littleton · 2.83% FHA vs 6.5% conventional
$406
per month
$4,871
per year
$146,118
over 30 years
$158,160
interest saved
How gap financing works: The equity gap ($173,933) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($150,183 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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