Loan Comparison: 3.86% vs 6.5%
8276 Birch Tree, Colorado Springs, CO 80927 · 4bd/3ba · $539,000
List Price
$539,000
Assumable Rate
3.86%
Remaining Balance
$201,606
Equity Gap
$337,394
Loan Type
FHAAdjust Your Scenario
$26,950
$26,950$337,394
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.86% (FHA)
Blended Rate: 6.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,237/moAssumable @ 3.86% + gap loan
$3,333/moAssumed loan: $946/mo
Gap financing: $2,387/mo
Your Savings on This Property
8276 Birch Tree, Colorado Springs · 3.86% 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 ($337,394) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,950, 5% of purchase price) and a second mortgage for the rest ($310,444 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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