Loan Comparison: 2.65% vs 6.5%
5342 Canadian Rose View, Colorado Springs, CO 80916 · 3bd/2ba · $310,999
List Price
$310,999
Assumable Rate
2.65%
Remaining Balance
$195,867
Equity Gap
$115,131
Loan Type
FHAAdjust Your Scenario
$15,550
$15,550$115,131
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.65% (FHA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,867/moAssumable @ 2.65% + gap loan
$1,486/moAssumed loan: $789/mo
Gap financing: $696/mo
$382less per month with the assumable
Your Savings on This Property
5342 Canadian Rose View, Colorado Springs · 2.65% FHA vs 6.5% conventional
$382
per month
$4,583
per year
$137,477
over 30 years
$137,476
interest saved
How gap financing works: The equity gap ($115,131) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,550, 5% of purchase price) and a second mortgage for the rest ($99,581 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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