Loan Comparison: 3.06% vs 6.5%
9144 Baltin, Colorado Springs, CO 80927 · 3bd/3ba · $404,000
List Price
$404,000
Assumable Rate
3.06%
Remaining Balance
$302,369
Equity Gap
$99,653
Loan Type
FHAAdjust Your Scenario
$20,200
$20,200$99,653
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,426/moAssumable @ 3.06% + gap loan
$1,896/moAssumed loan: $1,285/mo
Gap financing: $611/mo
$530less per month with the assumable
Your Savings on This Property
9144 Baltin, Colorado Springs · 3.06% FHA vs 6.5% conventional
$530
per month
$6,364
per year
$190,925
over 30 years
$188,947
interest saved
How gap financing works: The equity gap ($99,653) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,200, 5% of purchase price) and a second mortgage for the rest ($79,453 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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