Loan Comparison: 4.84% vs 6.5%
2145 McArthur Avenue, Colorado Springs, CO 80909 · 3bd/2ba · $390,500
List Price
$390,500
Assumable Rate
4.84%
Remaining Balance
$96,722
Equity Gap
$293,778
Loan Type
FHAAdjust Your Scenario
$19,525
$19,525$293,778
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.84% (FHA)
Blended Rate: 6.81%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,345/moAssumable @ 4.84% + gap loan
$2,427/moAssumed loan: $510/mo
Gap financing: $1,918/mo
Your Savings on This Property
2145 McArthur Avenue, Colorado Springs · 4.84% 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 ($293,778) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,525, 5% of purchase price) and a second mortgage for the rest ($274,253 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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