Loan Comparison: 3.25% vs 6.5%
1342 Shenandoah Drive, Colorado Springs, CO 80910 · 3bd/1ba · $319,900
List Price
$319,900
Assumable Rate
3.25%
Remaining Balance
$140,794
Equity Gap
$179,105
Loan Type
FHAAdjust Your Scenario
$15,995
$15,995$179,105
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.25% + gap loan
$1,753/moAssumed loan: $613/mo
Gap financing: $1,140/mo
$168less per month with the assumable
Your Savings on This Property
1342 Shenandoah Drive, Colorado Springs · 3.25% FHA vs 6.5% conventional
$168
per month
$2,012
per year
$60,355
over 30 years
$60,354
interest saved
How gap financing works: The equity gap ($179,105) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,995, 5% of purchase price) and a second mortgage for the rest ($163,110 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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