Loan Comparison: 4.53% vs 6.5%
7155 Omaha, Colorado Springs, CO 80915 · 4bd/2ba · $395,000
List Price
$395,000
Assumable Rate
4.53%
Remaining Balance
$208,112
Equity Gap
$185,114
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$185,114
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (FHA)
Blended Rate: 6.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.53% + gap loan
$2,330/moAssumed loan: $1,058/mo
Gap financing: $1,272/mo
$42less per month with the assumable
Your Savings on This Property
7155 Omaha, Colorado Springs · 4.53% FHA vs 6.5% conventional
$42
per month
$506
per year
$15,172
over 30 years
$13,398
interest saved
How gap financing works: The equity gap ($185,114) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($165,364 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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