Loan Comparison: 6.64% vs 6.5%
8321 Sedgewick Drive, Colorado Springs, CO 80925 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
6.64%
Remaining Balance
$480,010
Equity Gap
$69,990
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$69,990
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.64% (FHA)
Blended Rate: 6.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 6.64% + gap loan
$3,375/moAssumed loan: $3,078/mo
Gap financing: $297/mo
Your Savings on This Property
8321 Sedgewick Drive, Colorado Springs · 6.64% 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 ($69,990) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($42,490 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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