Loan Comparison: 3.9% vs 6.5%
4711 Keith, Colorado Springs, CO 80916 · 3bd/2ba · $300,000
List Price
$300,000
Assumable Rate
3.9%
Remaining Balance
$203,220
Equity Gap
$115,536
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$115,536
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.9% (FHA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 3.9% + gap loan
$1,732/moAssumed loan: $959/mo
Gap financing: $773/mo
$70less per month with the assumable
Your Savings on This Property
4711 Keith, Colorado Springs · 3.9% FHA vs 6.5% conventional
$70
per month
$838
per year
$25,141
over 30 years
$43,897
interest saved
How gap financing works: The equity gap ($115,536) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($100,536 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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