Loan Comparison: 3.75% vs 6.5%
4302 Delighted Circle, Colorado Springs, CO 80917 · 5bd/4ba · $392,700
List Price
$392,700
Assumable Rate
3.75%
Remaining Balance
$175,675
Equity Gap
$217,024
Loan Type
FHAAdjust Your Scenario
$19,635
$19,635$217,024
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,358/moAssumable @ 3.75% + gap loan
$2,194/moAssumed loan: $814/mo
Gap financing: $1,380/mo
$164less per month with the assumable
Your Savings on This Property
4302 Delighted Circle, Colorado Springs · 3.75% FHA vs 6.5% conventional
$164
per month
$1,971
per year
$59,139
over 30 years
$59,138
interest saved
How gap financing works: The equity gap ($217,024) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,635, 5% of purchase price) and a second mortgage for the rest ($197,389 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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