Loan Comparison: 3.3% vs 6.5%
5578 Stetson Hills Boulevard, Colorado Springs, CO 80917 · 3bd/2ba · $324,999
List Price
$324,999
Assumable Rate
3.3%
Remaining Balance
$241,058
Equity Gap
$83,941
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$83,941
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.3% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.3% + gap loan
$1,529/moAssumed loan: $1,056/mo
Gap financing: $473/mo
$422less per month with the assumable
Your Savings on This Property
5578 Stetson Hills Boulevard, Colorado Springs · 3.3% FHA vs 6.5% conventional
$422
per month
$5,070
per year
$152,090
over 30 years
$152,090
interest saved
How gap financing works: The equity gap ($83,941) 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 ($67,691 at 7.5%). 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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