Loan Comparison: 3.02% vs 6.5%
2734 Marcy Avenue, Colorado Springs, CO 80910 · 3bd/1ba · $420,000
List Price
$420,000
Assumable Rate
3.02%
Remaining Balance
$162,244
Equity Gap
$257,755
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$257,755
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 5.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 3.02% + gap loan
$2,341/moAssumed loan: $686/mo
Gap financing: $1,655/mo
$181less per month with the assumable
Your Savings on This Property
2734 Marcy Avenue, Colorado Springs · 3.02% FHA vs 6.5% conventional
$181
per month
$2,169
per year
$65,069
over 30 years
$65,068
interest saved
How gap financing works: The equity gap ($257,755) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($236,755 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 2734 Marcy Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.