Loan Comparison: 3.76% vs 6.5%
1025 Moreno, Colorado Springs, CO 80903 · 3bd/3ba · $469,900
List Price
$469,900
Assumable Rate
3.76%
Remaining Balance
$405,950
Equity Gap
$63,950
Loan Type
FHAAdjust Your Scenario
$23,495
$23,495$63,950
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.76% + gap loan
$2,193/moAssumed loan: $1,882/mo
Gap financing: $311/mo
$628less per month with the assumable
Your Savings on This Property
1025 Moreno, Colorado Springs · 3.76% FHA vs 6.5% conventional
$628
per month
$7,538
per year
$226,151
over 30 years
$226,151
interest saved
How gap financing works: The equity gap ($63,950) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,495, 5% of purchase price) and a second mortgage for the rest ($40,455 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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