Loan Comparison: 7.1% vs 6.5%
4066 Wyedale Way, Colorado Springs, CO 80922 · 4bd/4ba · $555,000
List Price
$555,000
Assumable Rate
7.1%
Remaining Balance
$427,127
Equity Gap
$127,873
Loan Type
FHAAdjust Your Scenario
$27,750
$27,750$127,873
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.1% (FHA)
Blended Rate: 7.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 7.1% + gap loan
$3,571/moAssumed loan: $2,870/mo
Gap financing: $700/mo
Your Savings on This Property
4066 Wyedale Way, Colorado Springs · 7.1% 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 ($127,873) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($100,123 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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