Loan Comparison: 2.8% vs 6.5%
6185 Juno Court, Colorado Springs, CO 80922 · 3bd/2ba · $446,719
List Price
$446,719
Assumable Rate
2.8%
Remaining Balance
$10,215
Equity Gap
$436,503
Loan Type
FHAAdjust Your Scenario
$22,336
$22,336$436,503
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (FHA)
Blended Rate: 7.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,682/moAssumable @ 2.8% + gap loan
$2,938/moAssumed loan: $42/mo
Gap financing: $2,896/mo
Your Savings on This Property
6185 Juno Court, Colorado Springs · 2.8% 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 ($436,503) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,336, 5% of purchase price) and a second mortgage for the rest ($414,167 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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