Loan Comparison: 3.07% vs 6.5%
3705 Windsor, Colorado Springs, CO 80907 · 5bd/2ba · $464,900
List Price
$464,900
Assumable Rate
3.07%
Remaining Balance
$346,722
Equity Gap
$117,442
Loan Type
FHAAdjust Your Scenario
$23,245
$23,245$117,442
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.07% + gap loan
$2,199/moAssumed loan: $1,475/mo
Gap financing: $724/mo
$592less per month with the assumable
Your Savings on This Property
3705 Windsor, Colorado Springs · 3.07% FHA vs 6.5% conventional
$592
per month
$7,108
per year
$213,246
over 30 years
$212,510
interest saved
How gap financing works: The equity gap ($117,442) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,245, 5% of purchase price) and a second mortgage for the rest ($94,197 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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