Loan Comparison: 5.38% vs 6.5%
3440 Parkmoor Village, Colorado Springs, CO 80917 · 2bd/1ba · $168,985
List Price
$168,985
Assumable Rate
5.38%
Remaining Balance
$26,114
Equity Gap
$142,871
Loan Type
FHAAdjust Your Scenario
$8,449
$8,449$142,871
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.38% (FHA)
Blended Rate: 7.99%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,015/moAssumable @ 5.38% + gap loan
$1,180/moAssumed loan: $146/mo
Gap financing: $1,034/mo
Your Savings on This Property
3440 Parkmoor Village, Colorado Springs · 5.38% 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 ($142,871) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,449, 5% of purchase price) and a second mortgage for the rest ($134,422 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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