Loan Comparison: 3.76% vs 6.5%
5932 Tympany, Colorado Springs, CO 80923 · 3bd/3ba · $365,000
List Price
$365,000
Assumable Rate
3.76%
Remaining Balance
$323,858
Equity Gap
$40,524
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$40,524
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 3.76% + gap loan
$1,673/moAssumed loan: $1,502/mo
Gap financing: $171/mo
$519less per month with the assumable
Your Savings on This Property
5932 Tympany, Colorado Springs · 3.76% FHA vs 6.5% conventional
$519
per month
$6,225
per year
$186,751
over 30 years
$186,133
interest saved
How gap financing works: The equity gap ($40,524) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($22,274 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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