Loan Comparison: 3.61% vs 6.5%
1321 Soaring Eagle, Colorado Springs, CO 80915 · 2bd/2ba · $169,999
List Price
$169,999
Assumable Rate
3.61%
Remaining Balance
$143,311
Equity Gap
$26,688
Loan Type
FHAAdjust Your Scenario
$8,500
$8,500$26,688
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 4.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,021/moAssumable @ 3.61% + gap loan
$792/moAssumed loan: $652/mo
Gap financing: $140/mo
$229less per month with the assumable
Your Savings on This Property
1321 Soaring Eagle, Colorado Springs · 3.61% FHA vs 6.5% conventional
$229
per month
$2,743
per year
$82,286
over 30 years
$82,286
interest saved
How gap financing works: The equity gap ($26,688) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,500, 5% of purchase price) and a second mortgage for the rest ($18,188 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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