Loan Comparison: 3.16% vs 6.5%
5996 Jellison, Littleton, CO 80123 · 3bd/4ba · $563,900
List Price
$563,900
Assumable Rate
3.16%
Remaining Balance
$269,116
Equity Gap
$394,961
Loan Type
FHAAdjust Your Scenario
$28,195
$28,195$394,961
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,386/moAssumable @ 3.16% + gap loan
$3,978/moAssumed loan: $1,158/mo
Gap financing: $2,820/mo
Your Savings on This Property
5996 Jellison, Littleton · 3.16% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($394,961) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,195, 5% of purchase price) and a second mortgage for the rest ($366,766 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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