Loan Comparison: 3.76% vs 6.5%
3630 Brentwood Terrace, Colorado Springs, CO 80910 · 5bd/4ba · $370,000
List Price
$370,000
Assumable Rate
3.76%
Remaining Balance
$333,142
Equity Gap
$36,857
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$36,857
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 3.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.76% + gap loan
$1,673/moAssumed loan: $1,545/mo
Gap financing: $128/mo
$549less per month with the assumable
Your Savings on This Property
3630 Brentwood Terrace, Colorado Springs · 3.76% FHA vs 6.5% conventional
$549
per month
$6,584
per year
$197,511
over 30 years
$197,510
interest saved
How gap financing works: The equity gap ($36,857) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($18,357 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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