Loan Comparison: 7.76% vs 6.5%
5251 Aeroglide Loop, Colorado Springs, CO 80916 · 3bd/2ba · $408,000
List Price
$408,000
Assumable Rate
7.76%
Remaining Balance
$378,787
Equity Gap
$29,212
Loan Type
FHAAdjust Your Scenario
$20,400
$20,400$29,212
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.76% (FHA)
Blended Rate: 7.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,450/moAssumable @ 7.76% + gap loan
$2,778/moAssumed loan: $2,716/mo
Gap financing: $62/mo
Your Savings on This Property
5251 Aeroglide Loop, Colorado Springs · 7.76% 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 ($29,212) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,400, 5% of purchase price) and a second mortgage for the rest ($8,812 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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