Loan Comparison: 2.83% vs 6.5%
1125 Manitou, Manitou Springs, CO 80829 · 3bd/3ba · $699,900
List Price
$699,900
Assumable Rate
2.83%
Remaining Balance
$431,104
Equity Gap
$268,795
Loan Type
FHAAdjust Your Scenario
$34,995
$34,995$268,795
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 2.83% + gap loan
$3,576/moAssumed loan: $1,778/mo
Gap financing: $1,798/mo
$627less per month with the assumable
Your Savings on This Property
1125 Manitou, Manitou Springs · 2.83% FHA vs 6.5% conventional
$627
per month
$7,520
per year
$225,600
over 30 years
$225,599
interest saved
How gap financing works: The equity gap ($268,795) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($233,800 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1125 Manitou.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.