Loan Comparison: 4.57% vs 6.5%
6382 Zermatt, Colorado Springs, CO 80915 · 3bd/3ba · $416,000
List Price
$416,000
Assumable Rate
4.57%
Remaining Balance
$223,488
Equity Gap
$192,512
Loan Type
FHAAdjust Your Scenario
$20,800
$20,800$192,512
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.57% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,498/moAssumable @ 4.57% + gap loan
$2,462/moAssumed loan: $1,142/mo
Gap financing: $1,320/mo
$36less per month with the assumable
Your Savings on This Property
6382 Zermatt, Colorado Springs · 4.57% FHA vs 6.5% conventional
$36
per month
$431
per year
$12,932
over 30 years
$12,932
interest saved
How gap financing works: The equity gap ($192,512) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,800, 5% of purchase price) and a second mortgage for the rest ($171,712 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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