Loan Comparison: 3.32% vs 6.5%
929 Arcadia, Colorado Springs, CO 80903 · 2bd/1ba · $279,900
List Price
$279,900
Assumable Rate
3.32%
Remaining Balance
$151,500
Equity Gap
$235,987
Loan Type
FHAAdjust Your Scenario
$13,995
$13,995$235,987
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.32% (FHA)
Blended Rate: 6.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 3.32% + gap loan
$2,372/moAssumed loan: $665/mo
Gap financing: $1,707/mo
Your Savings on This Property
929 Arcadia, Colorado Springs · 3.32% 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 ($235,987) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,995, 5% of purchase price) and a second mortgage for the rest ($221,992 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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