Loan Comparison: 6.5% vs 6.5%
4096 Gray Fox Heights, Colorado Springs, CO 80922 · 3bd/2ba · $230,000
List Price
$230,000
Assumable Rate
6.5%
Remaining Balance
$209,858
Equity Gap
$20,141
Loan Type
FHAAdjust Your Scenario
$11,500
$11,500$20,141
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,381/moAssumable @ 6.5% + gap loan
$1,387/moAssumed loan: $1,326/mo
Gap financing: $60/mo
Your Savings on This Property
4096 Gray Fox Heights, Colorado Springs · 6.5% 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 ($20,141) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,500, 5% of purchase price) and a second mortgage for the rest ($8,641 at 7.5%). 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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