Loan Comparison: 3.8% vs 6.5%
4813 Live Oak, Colorado Springs, CO 80916 · 3bd/2ba · $275,000
List Price
$275,000
Assumable Rate
3.8%
Remaining Balance
$165,121
Equity Gap
$109,879
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$109,879
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 5.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.8% + gap loan
$1,509/moAssumed loan: $769/mo
Gap financing: $739/mo
$143less per month with the assumable
Your Savings on This Property
4813 Live Oak, Colorado Springs · 3.8% FHA vs 6.5% conventional
$143
per month
$1,713
per year
$51,385
over 30 years
$51,385
interest saved
How gap financing works: The equity gap ($109,879) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($96,129 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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