Loan Comparison: 4.53% vs 6.5%
7155 Omaha, Colorado Springs, CO 80915 · 4bd/2ba · $400,000
List Price
$400,000
Assumable Rate
4.53%
Remaining Balance
$209,002
Equity Gap
$190,998
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$190,998
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (FHA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.53% + gap loan
$2,378/moAssumed loan: $1,063/mo
Gap financing: $1,315/mo
$24less per month with the assumable
Your Savings on This Property
7155 Omaha, Colorado Springs · 4.53% FHA vs 6.5% conventional
$24
per month
$292
per year
$8,755
over 30 years
$8,755
interest saved
How gap financing works: The equity gap ($190,998) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($170,998 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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