Loan Comparison: 3.86% vs 6.5%
4302 Delighted Circle, Colorado Springs, CO 80917 · 3bd/2ba · $392,700
List Price
$392,700
Assumable Rate
3.86%
Remaining Balance
$176,254
Equity Gap
$216,445
Loan Type
FHAAdjust Your Scenario
$19,635
$19,635$216,445
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.86% (FHA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,358/moAssumable @ 3.86% + gap loan
$2,203/moAssumed loan: $827/mo
Gap financing: $1,376/mo
$155less per month with the assumable
Your Savings on This Property
4302 Delighted Circle, Colorado Springs · 3.86% FHA vs 6.5% conventional
$155
per month
$1,855
per year
$55,656
over 30 years
$55,655
interest saved
How gap financing works: The equity gap ($216,445) 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 ($196,810 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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