Loan Comparison: 6.2% vs 6.5%
6515 Apex Court, Colorado Springs, CO 80911 · 3bd/3ba · $190,000
List Price
$190,000
Assumable Rate
6.2%
Remaining Balance
$45,772
Equity Gap
$144,227
Loan Type
FHAAdjust Your Scenario
$9,500
$9,500$144,227
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.2% (FHA)
Blended Rate: 7.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,141/moAssumable @ 6.2% + gap loan
$1,222/moAssumed loan: $280/mo
Gap financing: $942/mo
Your Savings on This Property
6515 Apex Court, Colorado Springs · 6.2% 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 ($144,227) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,500, 5% of purchase price) and a second mortgage for the rest ($134,727 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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