Loan Comparison: 3.76% vs 6.5%
6151 Vickie, Colorado Springs, CO 80923 · 6bd/4ba · $749,900
List Price
$749,900
Assumable Rate
3.76%
Remaining Balance
$342,519
Equity Gap
$507,842
Loan Type
FHAAdjust Your Scenario
$37,495
$37,495$507,842
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 6.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 3.76% + gap loan
$5,205/moAssumed loan: $1,588/mo
Gap financing: $3,617/mo
Your Savings on This Property
6151 Vickie, Colorado Springs · 3.76% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($507,842) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,495, 5% of purchase price) and a second mortgage for the rest ($470,347 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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