Loan Comparison: 3.07% vs 6.5%
2409 Robinson, Colorado Springs, CO 80904 · 3bd/2ba · $469,900
List Price
$469,900
Assumable Rate
3.07%
Remaining Balance
$296,557
Equity Gap
$172,092
Loan Type
FHAAdjust Your Scenario
$23,495
$23,495$172,092
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.07% + gap loan
$2,404/moAssumed loan: $1,262/mo
Gap financing: $1,143/mo
$417less per month with the assumable
Your Savings on This Property
2409 Robinson, Colorado Springs · 3.07% FHA vs 6.5% conventional
$417
per month
$5,010
per year
$150,293
over 30 years
$149,042
interest saved
How gap financing works: The equity gap ($172,092) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($148,597 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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