Loan Comparison: 2.84% vs 6.5%
2682 Easter, Littleton, CO 80122 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
2.84%
Remaining Balance
$367,119
Equity Gap
$77,001
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$77,001
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (FHA)
Blended Rate: 3.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 2.84% + gap loan
$1,943/moAssumed loan: $1,516/mo
Gap financing: $427/mo
$639less per month with the assumable
Your Savings on This Property
2682 Easter, Littleton · 2.84% FHA vs 6.5% conventional
$639
per month
$7,667
per year
$230,023
over 30 years
$244,143
interest saved
How gap financing works: The equity gap ($77,001) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($55,501 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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