Loan Comparison: 5.11% vs 6.5%
3077 Wild Peregrine View, Colorado Springs, CO 80916 · 3bd/2ba · $365,000
List Price
$365,000
Assumable Rate
5.11%
Remaining Balance
$325,757
Equity Gap
$39,243
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$39,243
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.11% (FHA)
Blended Rate: 5.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 5.11% + gap loan
$1,917/moAssumed loan: $1,771/mo
Gap financing: $147/mo
$274less per month with the assumable
Your Savings on This Property
3077 Wild Peregrine View, Colorado Springs · 5.11% FHA vs 6.5% conventional
$274
per month
$3,291
per year
$98,716
over 30 years
$98,716
interest saved
How gap financing works: The equity gap ($39,243) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($20,993 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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