Loan Comparison: 3.07% vs 6.5%
6749 Rio Bravo Grove, Colorado Springs, CO 80922 · 3bd/3ba · $325,000
List Price
$325,000
Assumable Rate
3.07%
Remaining Balance
$256,272
Equity Gap
$68,727
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$68,727
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.07% + gap loan
$1,457/moAssumed loan: $1,090/mo
Gap financing: $367/mo
$494less per month with the assumable
Your Savings on This Property
6749 Rio Bravo Grove, Colorado Springs · 3.07% FHA vs 6.5% conventional
$494
per month
$5,933
per year
$177,995
over 30 years
$177,994
interest saved
How gap financing works: The equity gap ($68,727) 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 ($52,477 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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