Loan Comparison: 3.61% vs 6.5%
6292 John Muir, Colorado Springs, CO 80927 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
3.61%
Remaining Balance
$251,537
Equity Gap
$148,362
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$148,362
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 3.61% + gap loan
$2,132/moAssumed loan: $1,145/mo
Gap financing: $987/mo
$269less per month with the assumable
Your Savings on This Property
6292 John Muir, Colorado Springs · 3.61% FHA vs 6.5% conventional
$269
per month
$3,231
per year
$96,916
over 30 years
$96,915
interest saved
How gap financing works: The equity gap ($148,362) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($128,367 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 6292 John Muir.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.