Loan Comparison: 3.17% vs 6.5%
11778 Cooper, Littleton, CO 80127 · 5bd/4ba · $790,000
List Price
$790,000
Assumable Rate
3.17%
Remaining Balance
$348,585
Equity Gap
$441,415
Loan Type
FHAAdjust Your Scenario
$39,500
$39,500$441,415
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.17% (FHA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,744/moAssumable @ 3.17% + gap loan
$4,592/moAssumed loan: $1,502/mo
Gap financing: $3,090/mo
$151less per month with the assumable
Your Savings on This Property
11778 Cooper, Littleton · 3.17% FHA vs 6.5% conventional
$151
per month
$1,818
per year
$54,537
over 30 years
$54,537
interest saved
How gap financing works: The equity gap ($441,415) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,500, 5% of purchase price) and a second mortgage for the rest ($401,915 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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