Loan Comparison: 3.67% vs 6.5%
3774 Oro Blanco, Colorado Springs, CO 80917 · 2bd/2ba · $189,000
List Price
$189,000
Assumable Rate
3.67%
Remaining Balance
$78,746
Equity Gap
$110,253
Loan Type
FHAAdjust Your Scenario
$9,450
$9,450$110,253
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,135/moAssumable @ 3.67% + gap loan
$1,136/moAssumed loan: $361/mo
Gap financing: $775/mo
Your Savings on This Property
3774 Oro Blanco, Colorado Springs · 3.67% 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 ($110,253) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,450, 5% of purchase price) and a second mortgage for the rest ($100,803 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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