Loan Comparison: 3.1% vs 6.5%
3165 Dublin, Colorado Springs, CO 80918 · 4bd/3ba · $415,000
List Price
$415,000
Assumable Rate
3.1%
Remaining Balance
$362,396
Equity Gap
$51,838
Loan Type
FHAAdjust Your Scenario
$20,750
$20,750$51,838
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 3.1% + gap loan
$1,787/moAssumed loan: $1,547/mo
Gap financing: $239/mo
$705less per month with the assumable
Your Savings on This Property
3165 Dublin, Colorado Springs · 3.1% FHA vs 6.5% conventional
$705
per month
$8,465
per year
$253,943
over 30 years
$253,177
interest saved
How gap financing works: The equity gap ($51,838) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($31,088 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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