Loan Comparison: 3.08% vs 6.5%
12348 Dorado, Littleton, CO 80127 · 3bd/2ba · $300,000
List Price
$300,000
Assumable Rate
3.08%
Remaining Balance
$247,711
Equity Gap
$59,587
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$59,587
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 3.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.08% + gap loan
$1,398/moAssumed loan: $1,055/mo
Gap financing: $343/mo
$403less per month with the assumable
Your Savings on This Property
12348 Dorado, Littleton · 3.08% FHA vs 6.5% conventional
$403
per month
$4,842
per year
$145,253
over 30 years
$152,551
interest saved
How gap financing works: The equity gap ($59,587) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($44,587 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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