Loan Comparison: 3.84% vs 6.5%
512 Cottonwood, Colorado Springs, CO 80911 · 3bd/2ba · $299,000
List Price
$299,000
Assumable Rate
3.84%
Remaining Balance
$131,271
Equity Gap
$193,784
Loan Type
FHAAdjust Your Scenario
$14,950
$14,950$193,784
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.84% (FHA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,795/moAssumable @ 3.84% + gap loan
$1,990/moAssumed loan: $615/mo
Gap financing: $1,375/mo
Your Savings on This Property
512 Cottonwood, Colorado Springs · 3.84% 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 ($193,784) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,950, 5% of purchase price) and a second mortgage for the rest ($178,834 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 512 Cottonwood.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.