Loan Comparison: 3.45% vs 6.5%
8257 Fillmore, Littleton, CO 80122 · 2bd/3ba · $325,000
List Price
$325,000
Assumable Rate
3.45%
Remaining Balance
$260,029
Equity Gap
$72,071
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$72,071
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.45% + gap loan
$1,590/moAssumed loan: $1,160/mo
Gap financing: $429/mo
$362less per month with the assumable
Your Savings on This Property
8257 Fillmore, Littleton · 3.45% FHA vs 6.5% conventional
$362
per month
$4,343
per year
$130,282
over 30 years
$137,382
interest saved
How gap financing works: The equity gap ($72,071) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($55,821 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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