Loan Comparison: 3.76% vs 6.5%
3630 Brentwood, Colorado Springs, CO 80910 · 3bd/2ba · $380,000
List Price
$380,000
Assumable Rate
3.76%
Remaining Balance
$334,418
Equity Gap
$45,582
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$45,582
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.76% + gap loan
$1,755/moAssumed loan: $1,551/mo
Gap financing: $204/mo
$527less per month with the assumable
Your Savings on This Property
3630 Brentwood, Colorado Springs · 3.76% FHA vs 6.5% conventional
$527
per month
$6,321
per year
$189,624
over 30 years
$189,624
interest saved
How gap financing works: The equity gap ($45,582) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($26,582 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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