Loan Comparison: 6.2% vs 6.5%
7170 Mount Higgins Heights, Colorado Springs, CO 80922 · 3bd/3ba · $490,000
List Price
$490,000
Assumable Rate
6.2%
Remaining Balance
$437,289
Equity Gap
$52,710
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$52,710
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.2% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 6.2% + gap loan
$2,876/moAssumed loan: $2,678/mo
Gap financing: $197/mo
$67less per month with the assumable
Your Savings on This Property
7170 Mount Higgins Heights, Colorado Springs · 6.2% FHA vs 6.5% conventional
$67
per month
$801
per year
$24,037
over 30 years
$24,036
interest saved
How gap financing works: The equity gap ($52,710) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($28,210 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.
🏠
Back to This Listing
View photos, details, and request a showing for 7170 Mount Higgins Heights.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.