Loan Comparison: 3.76% vs 6.5%
1249 Atoka, Colorado Springs, CO 80915 · 4bd/2ba · $335,000
List Price
$335,000
Assumable Rate
3.76%
Remaining Balance
$256,684
Equity Gap
$79,275
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$79,275
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 3.76% + gap loan
$1,671/moAssumed loan: $1,190/mo
Gap financing: $481/mo
$341less per month with the assumable
Your Savings on This Property
1249 Atoka, Colorado Springs · 3.76% FHA vs 6.5% conventional
$341
per month
$4,087
per year
$122,613
over 30 years
$123,572
interest saved
How gap financing works: The equity gap ($79,275) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($62,525 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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