Loan Comparison: 7.88% vs 6.5%
4220 Hunting Meadows Circle, Colorado Springs, CO 80916 · 5bd/4ba · $232,500
List Price
$232,500
Assumable Rate
7.88%
Remaining Balance
$23,054
Equity Gap
$209,445
Loan Type
FHAAdjust Your Scenario
$11,625
$11,625$209,445
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.88% (FHA)
Blended Rate: 7.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,396/moAssumable @ 7.88% + gap loan
$1,550/moAssumed loan: $167/mo
Gap financing: $1,383/mo
Your Savings on This Property
4220 Hunting Meadows Circle, Colorado Springs · 7.88% 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 ($209,445) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,625, 5% of purchase price) and a second mortgage for the rest ($197,820 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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