Loan Comparison: 6.74% vs 6.5%
4025 Carefree Circle, Colorado Springs, CO 80917 · 2bd/2ba · $449,000
List Price
$449,000
Assumable Rate
6.74%
Remaining Balance
$413,861
Equity Gap
$35,139
Loan Type
FHAAdjust Your Scenario
$22,450
$22,450$35,139
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.74% (FHA)
Blended Rate: 6.76%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,696/moAssumable @ 6.74% + gap loan
$2,770/moAssumed loan: $2,682/mo
Gap financing: $89/mo
Your Savings on This Property
4025 Carefree Circle, Colorado Springs · 6.74% 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 ($35,139) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,450, 5% of purchase price) and a second mortgage for the rest ($12,689 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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