Loan Comparison: 3.69% vs 6.5%
10604 Deer Meadow, Colorado Springs, CO 80925 · 5bd/4ba · $530,900
List Price
$530,900
Assumable Rate
3.69%
Remaining Balance
$196,347
Equity Gap
$334,552
Loan Type
FHAAdjust Your Scenario
$26,545
$26,545$334,552
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 6.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,188/moAssumable @ 3.69% + gap loan
$3,271/moAssumed loan: $903/mo
Gap financing: $2,368/mo
Your Savings on This Property
10604 Deer Meadow, Colorado Springs · 3.69% 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 ($334,552) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,545, 5% of purchase price) and a second mortgage for the rest ($308,007 at 8.5%). 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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