Loan Comparison: 2.8% vs 6.5%
407 San Rafael Street, Colorado Springs, CO 80903 · 4bd/2ba · $330,000
List Price
$330,000
Assumable Rate
2.8%
Remaining Balance
$196,321
Equity Gap
$133,679
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$133,679
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (FHA)
Blended Rate: 4.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 2.8% + gap loan
$1,626/moAssumed loan: $807/mo
Gap financing: $819/mo
$356less per month with the assumable
Your Savings on This Property
407 San Rafael Street, Colorado Springs · 2.8% FHA vs 6.5% conventional
$356
per month
$4,266
per year
$127,990
over 30 years
$127,990
interest saved
How gap financing works: The equity gap ($133,679) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($117,179 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 407 San Rafael Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.