Loan Comparison: 4.14% vs 6.5%
11577 Hibiscus Lane, Colorado Springs, CO 80921 · 4bd/4ba · $425,000
List Price
$425,000
Assumable Rate
4.14%
Remaining Balance
$230,742
Equity Gap
$194,258
Loan Type
FHAAdjust Your Scenario
$21,250
$21,250$194,258
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 4.14% + gap loan
$2,330/moAssumed loan: $1,120/mo
Gap financing: $1,210/mo
$222less per month with the assumable
Your Savings on This Property
11577 Hibiscus Lane, Colorado Springs · 4.14% FHA vs 6.5% conventional
$222
per month
$2,664
per year
$79,911
over 30 years
$79,911
interest saved
How gap financing works: The equity gap ($194,258) 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 ($173,008 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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