Loan Comparison: 3.77% vs 6.5%
7143 Bigtooth Maple, Colorado Springs, CO 80925 · 5bd/4ba · $575,000
List Price
$575,000
Assumable Rate
3.77%
Remaining Balance
$339,120
Equity Gap
$279,493
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$279,493
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (FHA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 3.77% + gap loan
$3,502/moAssumed loan: $1,574/mo
Gap financing: $1,928/mo
Your Savings on This Property
7143 Bigtooth Maple, Colorado Springs · 3.77% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$25,723
interest saved
How gap financing works: The equity gap ($279,493) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($250,743 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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