Loan Comparison: 3.31% vs 6.5%
9790 Wagon Trail, Littleton, CO 80123 · 3bd/2ba · $585,000
List Price
$585,000
Assumable Rate
3.31%
Remaining Balance
$354,569
Equity Gap
$241,503
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$241,503
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.31% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.31% + gap loan
$3,187/moAssumed loan: $1,555/mo
Gap financing: $1,632/mo
$326less per month with the assumable
Your Savings on This Property
9790 Wagon Trail, Littleton · 3.31% FHA vs 6.5% conventional
$326
per month
$3,910
per year
$117,313
over 30 years
$128,385
interest saved
How gap financing works: The equity gap ($241,503) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($212,253 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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