Loan Comparison: 3.57% vs 6.5%
3329 Misty Meadows, Colorado Springs, CO 80920 · 2bd/2ba · $259,000
List Price
$259,000
Assumable Rate
3.57%
Remaining Balance
$106,186
Equity Gap
$152,814
Loan Type
FHAAdjust Your Scenario
$12,950
$12,950$152,814
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.57% (FHA)
Blended Rate: 6.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,555/moAssumable @ 3.57% + gap loan
$1,556/moAssumed loan: $481/mo
Gap financing: $1,075/mo
Your Savings on This Property
3329 Misty Meadows, Colorado Springs · 3.57% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($152,814) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,950, 5% of purchase price) and a second mortgage for the rest ($139,864 at 8.5%). 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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