Loan Comparison: 4.5% vs 6.5%
4810 Constitution Avenue, Colorado Springs, CO 80915 · 4bd/2ba · $523,000
List Price
$523,000
Assumable Rate
4.5%
Remaining Balance
$93,813
Equity Gap
$429,186
Loan Type
FHAAdjust Your Scenario
$26,150
$26,150$429,186
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.5% (FHA)
Blended Rate: 6.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,140/moAssumable @ 4.5% + gap loan
$3,293/moAssumed loan: $475/mo
Gap financing: $2,818/mo
Your Savings on This Property
4810 Constitution Avenue, Colorado Springs · 4.5% 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 ($429,186) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,150, 5% of purchase price) and a second mortgage for the rest ($403,036 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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