Loan Comparison: 3.97% vs 6.5%
2230 Frontier, Colorado Springs, CO 80911 · 3bd/1ba · $275,000
List Price
$275,000
Assumable Rate
3.97%
Remaining Balance
$113,353
Equity Gap
$161,647
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$161,647
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.97% (FHA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.97% + gap loan
$1,676/moAssumed loan: $539/mo
Gap financing: $1,137/mo
Your Savings on This Property
2230 Frontier, Colorado Springs · 3.97% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($161,647) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($147,897 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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