Loan Comparison: 4.2% vs 6.5%
11577 Hibiscus Lane, Colorado Springs, CO 80921 · 4bd/4ba · $425,000
List Price
$425,000
Assumable Rate
4.2%
Remaining Balance
$231,164
Equity Gap
$193,836
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$193,836
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.2% (FHA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 4.2% + gap loan
$2,337/moAssumed loan: $1,130/mo
Gap financing: $1,207/mo
$215less per month with the assumable
Your Savings on This Property
11577 Hibiscus Lane, Colorado Springs · 4.2% FHA vs 6.5% conventional
$215
per month
$2,578
per year
$77,327
over 30 years
$77,327
interest saved
How gap financing works: The equity gap ($193,836) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($172,586 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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