Loan Comparison: 3.1% vs 6.5%
3165 Dublin, Colorado Springs, CO 80918 · 4bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.1%
Remaining Balance
$363,925
Equity Gap
$73,795
Loan Type
FHAAdjust Your Scenario
$22,000
$22,000$73,795
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.1% + gap loan
$1,952/moAssumed loan: $1,554/mo
Gap financing: $398/mo
$690less per month with the assumable
Your Savings on This Property
3165 Dublin, Colorado Springs · 3.1% FHA vs 6.5% conventional
$690
per month
$8,277
per year
$248,316
over 30 years
$246,036
interest saved
How gap financing works: The equity gap ($73,795) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($51,795 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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