Loan Comparison: 6.84% vs 6.5%
202 Blanca Court, Colorado Springs, CO 80919 · 4bd/3ba · $555,000
List Price
$555,000
Assumable Rate
6.84%
Remaining Balance
$510,090
Equity Gap
$44,910
Loan Type
FHAAdjust Your Scenario
$27,750
$27,750$44,910
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.84% (FHA)
Blended Rate: 6.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 6.84% + gap loan
$3,459/moAssumed loan: $3,339/mo
Gap financing: $120/mo
Your Savings on This Property
202 Blanca Court, Colorado Springs · 6.84% 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 ($44,910) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($17,160 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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