Loan Comparison: 2.83% vs 6.5%
2807 Hearthwood, Colorado Springs, CO 80917 · 2bd/2ba · $225,000
List Price
$225,000
Assumable Rate
2.83%
Remaining Balance
$156,555
Equity Gap
$74,113
Loan Type
FHAAdjust Your Scenario
$11,250
$11,250$74,113
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 4.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,351/moAssumable @ 2.83% + gap loan
$1,129/moAssumed loan: $646/mo
Gap financing: $483/mo
$222less per month with the assumable
Your Savings on This Property
2807 Hearthwood, Colorado Springs · 2.83% FHA vs 6.5% conventional
$222
per month
$2,663
per year
$79,887
over 30 years
$85,555
interest saved
How gap financing works: The equity gap ($74,113) 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 ($62,863 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2807 Hearthwood.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.