Loan Comparison: 3.72% vs 6.5%
3435 Cortina, Colorado Springs, CO 80918 · 5bd/3ba · $429,999
List Price
$429,999
Assumable Rate
3.72%
Remaining Balance
$317,599
Equity Gap
$112,399
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$112,399
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.72% (FHA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.72% + gap loan
$2,164/moAssumed loan: $1,465/mo
Gap financing: $699/mo
$418less per month with the assumable
Your Savings on This Property
3435 Cortina, Colorado Springs · 3.72% FHA vs 6.5% conventional
$418
per month
$5,011
per year
$150,339
over 30 years
$150,338
interest saved
How gap financing works: The equity gap ($112,399) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($90,899 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.
🏠
Back to This Listing
View photos, details, and request a showing for 3435 Cortina.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.