Loan Comparison: 3.46% vs 6.5%
4669 Barnes, Colorado Springs, CO 80917 · 3bd/2ba · $225,000
List Price
$225,000
Assumable Rate
3.46%
Remaining Balance
$63,920
Equity Gap
$161,431
Loan Type
FHAAdjust Your Scenario
$11,250
$11,250$161,431
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.46% (FHA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 3.46% + gap loan
$1,440/moAssumed loan: $286/mo
Gap financing: $1,155/mo
Your Savings on This Property
4669 Barnes, Colorado Springs · 3.46% 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 ($161,431) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,250, 5% of purchase price) and a second mortgage for the rest ($150,181 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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