Loan Comparison: 2.94% vs 6.5%
906 London Green, Colorado Springs, CO 80906 · 2bd/3ba · $274,000
List Price
$274,000
Assumable Rate
2.94%
Remaining Balance
$203,669
Equity Gap
$80,029
Loan Type
FHAAdjust Your Scenario
$13,700
$13,700$80,029
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,645/moAssumable @ 2.94% + gap loan
$1,362/moAssumed loan: $852/mo
Gap financing: $510/mo
$283less per month with the assumable
Your Savings on This Property
906 London Green, Colorado Springs · 2.94% FHA vs 6.5% conventional
$283
per month
$3,398
per year
$101,938
over 30 years
$111,636
interest saved
How gap financing works: The equity gap ($80,029) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,700, 5% of purchase price) and a second mortgage for the rest ($66,329 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 906 London Green.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.