Loan Comparison: 3.89% vs 6.5%
3850 Rosemere, Colorado Springs, CO 80906 · 3bd/2ba · $350,000
List Price
$350,000
Assumable Rate
3.89%
Remaining Balance
$154,604
Equity Gap
$194,955
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$194,955
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (FHA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.89% + gap loan
$2,093/moAssumed loan: $728/mo
Gap financing: $1,364/mo
$9less per month with the assumable
Your Savings on This Property
3850 Rosemere, Colorado Springs · 3.89% FHA vs 6.5% conventional
$9
per month
$106
per year
$3,175
over 30 years
$2,734
interest saved
How gap financing works: The equity gap ($194,955) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($177,455 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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