Loan Comparison: 5.52% vs 6.5%
2653 Shannara, Colorado Springs, CO 80951 · 3bd/3ba · $325,000
List Price
$325,000
Assumable Rate
5.52%
Remaining Balance
$267,490
Equity Gap
$57,510
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$57,510
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 5.52% + gap loan
$1,839/moAssumed loan: $1,522/mo
Gap financing: $317/mo
$112less per month with the assumable
Your Savings on This Property
2653 Shannara, Colorado Springs · 5.52% FHA vs 6.5% conventional
$112
per month
$1,345
per year
$40,363
over 30 years
$40,363
interest saved
How gap financing works: The equity gap ($57,510) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($41,260 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2653 Shannara.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.