Loan Comparison: 3.76% vs 6.5%
1025 Moreno, Colorado Springs, CO 80903 · 4bd/2ba · $479,000
List Price
$479,000
Assumable Rate
3.76%
Remaining Balance
$425,393
Equity Gap
$71,503
Loan Type
FHAAdjust Your Scenario
$23,950
$23,950$71,503
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,876/moAssumable @ 3.76% + gap loan
$2,338/moAssumed loan: $1,972/mo
Gap financing: $366/mo
$538less per month with the assumable
Your Savings on This Property
1025 Moreno, Colorado Springs · 3.76% FHA vs 6.5% conventional
$538
per month
$6,457
per year
$193,719
over 30 years
$211,615
interest saved
How gap financing works: The equity gap ($71,503) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,950, 5% of purchase price) and a second mortgage for the rest ($47,553 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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