Loan Comparison: 3.81% vs 6.5%
2079 Sussex, Colorado Springs, CO 80909 · 2bd/3ba · $269,900
List Price
$269,900
Assumable Rate
3.81%
Remaining Balance
$162,672
Equity Gap
$107,904
Loan Type
FHAAdjust Your Scenario
$13,495
$13,495$107,904
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.81% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.81% + gap loan
$1,485/moAssumed loan: $759/mo
Gap financing: $726/mo
$136less per month with the assumable
Your Savings on This Property
2079 Sussex, Colorado Springs · 3.81% FHA vs 6.5% conventional
$136
per month
$1,630
per year
$48,896
over 30 years
$49,572
interest saved
How gap financing works: The equity gap ($107,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,495, 5% of purchase price) and a second mortgage for the rest ($94,409 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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