Loan Comparison: 6.2% vs 6.5%
9383 Bur Oak Lane, Colorado Springs, CO 80925 · 3bd/2ba · $480,000
List Price
$480,000
Assumable Rate
6.2%
Remaining Balance
$339,441
Equity Gap
$140,558
Loan Type
FHAAdjust Your Scenario
$24,000
$24,000$140,558
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.2% (FHA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,882/moAssumable @ 6.2% + gap loan
$2,894/moAssumed loan: $2,079/mo
Gap financing: $815/mo
Your Savings on This Property
9383 Bur Oak Lane, Colorado Springs · 6.2% 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 ($140,558) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,000, 5% of purchase price) and a second mortgage for the rest ($116,558 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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