Loan Comparison: 6.5% vs 6.5%
1808 Reilly Grove, Colorado Springs, CO 80951 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
6.5%
Remaining Balance
$336,770
Equity Gap
$38,230
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$38,230
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (FHA)
Blended Rate: 6.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 6.5% + gap loan
$2,265/moAssumed loan: $2,129/mo
Gap financing: $136/mo
Your Savings on This Property
1808 Reilly Grove, Colorado Springs · 6.5% 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 ($38,230) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($19,480 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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