Loan Comparison: 3.3% vs 6.5%
5578 Stetson Hills, Colorado Springs, CO 80917 · 2bd/3ba · $324,999
List Price
$324,999
Assumable Rate
3.3%
Remaining Balance
$290,004
Equity Gap
$83,384
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$83,384
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.3% (FHA)
Blended Rate: 4.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.3% + gap loan
$1,786/moAssumed loan: $1,270/mo
Gap financing: $516/mo
$165less per month with the assumable
Your Savings on This Property
5578 Stetson Hills, Colorado Springs · 3.3% FHA vs 6.5% conventional
$165
per month
$1,983
per year
$59,477
over 30 years
$107,866
interest saved
How gap financing works: The equity gap ($83,384) 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 ($67,134 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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