Loan Comparison: 3.53% vs 6.5%
3021 Capstan, Colorado Springs, CO 80906 · 2bd/2ba · $248,000
List Price
$248,000
Assumable Rate
3.53%
Remaining Balance
$64,304
Equity Gap
$183,468
Loan Type
FHAAdjust Your Scenario
$12,400
$12,400$183,468
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.53% (FHA)
Blended Rate: 7.14%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,489/moAssumable @ 3.53% + gap loan
$1,605/moAssumed loan: $290/mo
Gap financing: $1,315/mo
Your Savings on This Property
3021 Capstan, Colorado Springs · 3.53% 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 ($183,468) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,400, 5% of purchase price) and a second mortgage for the rest ($171,068 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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