Loan Comparison: 2.39% vs 6.5%
910 Nolte, Colorado Springs, CO 80916 · 3bd/2ba · $355,884
List Price
$355,884
Assumable Rate
2.39%
Remaining Balance
$119,750
Equity Gap
$240,603
Loan Type
FHAAdjust Your Scenario
$17,794
$17,794$240,603
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.39% (FHA)
Blended Rate: 6.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,137/moAssumable @ 2.39% + gap loan
$2,180/moAssumed loan: $466/mo
Gap financing: $1,713/mo
Your Savings on This Property
910 Nolte, Colorado Springs · 2.39% 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 ($240,603) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,794, 5% of purchase price) and a second mortgage for the rest ($222,809 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.