Loan Comparison: 3.07% vs 6.5%
4551 Holland, Littleton, CO 80123 · 3bd/1ba · $425,000
List Price
$425,000
Assumable Rate
3.07%
Remaining Balance
$339,429
Equity Gap
$93,905
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$93,905
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 3.07% + gap loan
$2,003/moAssumed loan: $1,444/mo
Gap financing: $559/mo
$549less per month with the assumable
Your Savings on This Property
4551 Holland, Littleton · 3.07% FHA vs 6.5% conventional
$549
per month
$6,593
per year
$197,794
over 30 years
$206,128
interest saved
How gap financing works: The equity gap ($93,905) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($72,655 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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