Loan Comparison: 3.62% vs 6.5%
9093 Pacific Crest, Colorado Springs, CO 80927 · 3bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.62%
Remaining Balance
$170,740
Equity Gap
$278,874
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$278,874
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (FHA)
Blended Rate: 6.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.62% + gap loan
$2,749/moAssumed loan: $778/mo
Gap financing: $1,971/mo
Your Savings on This Property
9093 Pacific Crest, Colorado Springs · 3.62% 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 ($278,874) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($256,374 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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