Loan Comparison: 5.87% vs 6.5%
2206 Olympic, Colorado Springs, CO 80910 · 3bd/1ba · $290,000
List Price
$290,000
Assumable Rate
5.87%
Remaining Balance
$204,976
Equity Gap
$85,024
Loan Type
FHAAdjust Your Scenario
$14,500
$14,500$85,024
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.87% (FHA)
Blended Rate: 6.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,741/moAssumable @ 5.87% + gap loan
$1,754/moAssumed loan: $1,212/mo
Gap financing: $542/mo
Your Savings on This Property
2206 Olympic, Colorado Springs · 5.87% 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 ($85,024) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,500, 5% of purchase price) and a second mortgage for the rest ($70,524 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 2206 Olympic.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.