Loan Comparison: 3.57% vs 6.5%
2535 Hatch Circle, Colorado Springs, CO 80918 · 2bd/1ba · $269,900
List Price
$269,900
Assumable Rate
3.57%
Remaining Balance
$121,858
Equity Gap
$148,042
Loan Type
FHAAdjust Your Scenario
$13,495
$13,495$148,042
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.57% + gap loan
$1,493/moAssumed loan: $552/mo
Gap financing: $941/mo
$128less per month with the assumable
Your Savings on This Property
2535 Hatch Circle, Colorado Springs · 3.57% FHA vs 6.5% conventional
$128
per month
$1,535
per year
$46,048
over 30 years
$46,048
interest saved
How gap financing works: The equity gap ($148,042) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,495, 5% of purchase price) and a second mortgage for the rest ($134,547 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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