Loan Comparison: 3.06% vs 6.5%
9144 Baltin, Colorado Springs, CO 80927 · 3bd/3ba · $404,999
List Price
$404,999
Assumable Rate
3.06%
Remaining Balance
$303,030
Equity Gap
$101,969
Loan Type
FHAAdjust Your Scenario
$20,250
$20,250$101,969
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,432/moAssumable @ 3.06% + gap loan
$1,916/moAssumed loan: $1,287/mo
Gap financing: $628/mo
$516less per month with the assumable
Your Savings on This Property
9144 Baltin, Colorado Springs · 3.06% FHA vs 6.5% conventional
$516
per month
$6,193
per year
$185,801
over 30 years
$185,801
interest saved
How gap financing works: The equity gap ($101,969) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,250, 5% of purchase price) and a second mortgage for the rest ($81,719 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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