Loan Comparison: 3.66% vs 6.5%
8946 Bella Flora, Colorado Springs, CO 80924 · 2bd/3ba · $349,000
List Price
$349,000
Assumable Rate
3.66%
Remaining Balance
$163,093
Equity Gap
$185,907
Loan Type
FHAAdjust Your Scenario
$17,450
$17,450$185,907
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (FHA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,096/moAssumable @ 3.66% + gap loan
$2,042/moAssumed loan: $747/mo
Gap financing: $1,295/mo
$53less per month with the assumable
Your Savings on This Property
8946 Bella Flora, Colorado Springs · 3.66% FHA vs 6.5% conventional
$53
per month
$640
per year
$19,198
over 30 years
$19,198
interest saved
How gap financing works: The equity gap ($185,907) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,450, 5% of purchase price) and a second mortgage for the rest ($168,457 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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