Loan Comparison: 5.81% vs 6.5%
3825 Pony Tracks Drive, Colorado Springs, CO 80922 · 5bd/2ba · $525,000
List Price
$525,000
Assumable Rate
5.81%
Remaining Balance
$392,047
Equity Gap
$132,953
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$132,953
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.81% (FHA)
Blended Rate: 6.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 5.81% + gap loan
$3,049/moAssumed loan: $2,303/mo
Gap financing: $746/mo
$104less per month with the assumable
Your Savings on This Property
3825 Pony Tracks Drive, Colorado Springs · 5.81% FHA vs 6.5% conventional
$104
per month
$1,242
per year
$37,264
over 30 years
$37,264
interest saved
How gap financing works: The equity gap ($132,953) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($106,703 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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