Loan Comparison: 3.86% vs 6.5%
8276 Birch Tree, Colorado Springs, CO 80927 · 4bd/3ba · $565,000
List Price
$565,000
Assumable Rate
3.86%
Remaining Balance
$302,220
Equity Gap
$362,168
Loan Type
FHAAdjust Your Scenario
$28,250
$28,250$362,168
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.86% (FHA)
Blended Rate: 6.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 3.86% + gap loan
$3,986/moAssumed loan: $1,419/mo
Gap financing: $2,568/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 ($362,168) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($333,918 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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