Loan Comparison: 2.67% vs 6.5%
4020 Manzana Court, Colorado Springs, CO 80911 · 5bd/3ba · $475,000
List Price
$475,000
Assumable Rate
2.67%
Remaining Balance
$290,110
Equity Gap
$184,889
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$184,889
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.67% (FHA)
Blended Rate: 4.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 2.67% + gap loan
$2,299/moAssumed loan: $1,172/mo
Gap financing: $1,127/mo
$553less per month with the assumable
Your Savings on This Property
4020 Manzana Court, Colorado Springs · 2.67% FHA vs 6.5% conventional
$553
per month
$6,641
per year
$199,227
over 30 years
$199,226
interest saved
How gap financing works: The equity gap ($184,889) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($161,139 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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