Loan Comparison: 3.45% vs 6.5%
9647 Chatfield, Littleton, CO 80128 · 3bd/3ba · $398,500
List Price
$398,500
Assumable Rate
3.45%
Remaining Balance
$357,660
Equity Gap
$72,152
Loan Type
FHAAdjust Your Scenario
$19,925
$19,925$72,152
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,393/moAssumable @ 3.45% + gap loan
$1,998/moAssumed loan: $1,596/mo
Gap financing: $402/mo
$395less per month with the assumable
Your Savings on This Property
9647 Chatfield, Littleton · 3.45% FHA vs 6.5% conventional
$395
per month
$4,742
per year
$142,266
over 30 years
$173,578
interest saved
How gap financing works: The equity gap ($72,152) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,925, 5% of purchase price) and a second mortgage for the rest ($52,227 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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