Loan Comparison: 4.46% vs 6.5%
905 Hallam Avenue, Colorado Springs, CO 80911 · 4bd/3ba · $350,000
List Price
$350,000
Assumable Rate
4.46%
Remaining Balance
$194,718
Equity Gap
$155,281
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$155,281
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (FHA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 4.46% + gap loan
$1,945/moAssumed loan: $982/mo
Gap financing: $963/mo
$156less per month with the assumable
Your Savings on This Property
905 Hallam Avenue, Colorado Springs · 4.46% FHA vs 6.5% conventional
$156
per month
$1,875
per year
$56,252
over 30 years
$56,251
interest saved
How gap financing works: The equity gap ($155,281) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($137,781 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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