Loan Comparison: 4.3% vs 6.5%
2532 Mesa Springs, Colorado Springs, CO 80907 · 3bd/3ba · $315,000
List Price
$315,000
Assumable Rate
4.3%
Remaining Balance
$95,380
Equity Gap
$219,619
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$219,619
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.3% (FHA)
Blended Rate: 7.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 4.3% + gap loan
$2,040/moAssumed loan: $472/mo
Gap financing: $1,568/mo
Your Savings on This Property
2532 Mesa Springs, Colorado Springs · 4.3% 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 ($219,619) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($203,869 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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