Loan Comparison: 3.8% vs 6.5%
3412 Atlantic Drive, Colorado Springs, CO 80910 · 3bd/3ba · $240,000
List Price
$240,000
Assumable Rate
3.8%
Remaining Balance
$170,738
Equity Gap
$69,261
Loan Type
FHAAdjust Your Scenario
$12,000
$12,000$69,261
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 4.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.8% + gap loan
$1,196/moAssumed loan: $796/mo
Gap financing: $400/mo
$245less per month with the assumable
Your Savings on This Property
3412 Atlantic Drive, Colorado Springs · 3.8% FHA vs 6.5% conventional
$245
per month
$2,942
per year
$88,262
over 30 years
$88,261
interest saved
How gap financing works: The equity gap ($69,261) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,000, 5% of purchase price) and a second mortgage for the rest ($57,261 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.
🏠
Back to This Listing
View photos, details, and request a showing for 3412 Atlantic Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.