Loan Comparison: 2.94% vs 6.5%
4358 Marlow, Colorado Springs, CO 80916 · 4bd/2ba · $369,900
List Price
$369,900
Assumable Rate
2.94%
Remaining Balance
$277,296
Equity Gap
$102,650
Loan Type
FHAAdjust Your Scenario
$18,495
$18,495$102,650
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,221/moAssumable @ 2.94% + gap loan
$1,807/moAssumed loan: $1,160/mo
Gap financing: $647/mo
$414less per month with the assumable
Your Savings on This Property
4358 Marlow, Colorado Springs · 2.94% FHA vs 6.5% conventional
$414
per month
$4,967
per year
$149,005
over 30 years
$159,051
interest saved
How gap financing works: The equity gap ($102,650) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,495, 5% of purchase price) and a second mortgage for the rest ($84,155 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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