Loan Comparison: 3.07% vs 6.5%
10026 Westside, Littleton, CO 80125 · 4bd/3ba · $692,000
List Price
$692,000
Assumable Rate
3.07%
Remaining Balance
$418,006
Equity Gap
$274,892
Loan Type
FHAAdjust Your Scenario
$34,600
$34,600$274,892
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,155/moAssumable @ 3.07% + gap loan
$3,626/moAssumed loan: $1,778/mo
Gap financing: $1,848/mo
$529less per month with the assumable
Your Savings on This Property
10026 Westside, Littleton · 3.07% FHA vs 6.5% conventional
$529
per month
$6,353
per year
$190,594
over 30 years
$191,492
interest saved
How gap financing works: The equity gap ($274,892) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,600, 5% of purchase price) and a second mortgage for the rest ($240,292 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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