Loan Comparison: 3.72% vs 6.5%
4916 Horseshoe Bend Street, Colorado Springs, CO 80917 · 5bd/2ba · $475,000
List Price
$475,000
Assumable Rate
3.72%
Remaining Balance
$271,281
Equity Gap
$203,719
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$203,719
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.72% + gap loan
$2,510/moAssumed loan: $1,252/mo
Gap financing: $1,258/mo
$342less per month with the assumable
Your Savings on This Property
4916 Horseshoe Bend Street, Colorado Springs · 3.72% FHA vs 6.5% conventional
$342
per month
$4,105
per year
$123,158
over 30 years
$123,158
interest saved
How gap financing works: The equity gap ($203,719) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($179,969 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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