Loan Comparison: 4.86% vs 6.5%
3220 Pony Tracks, Colorado Springs, CO 80922 · 3bd/3ba · $459,900
List Price
$459,900
Assumable Rate
4.86%
Remaining Balance
$127,432
Equity Gap
$332,467
Loan Type
FHAAdjust Your Scenario
$22,995
$22,995$332,467
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.86% (FHA)
Blended Rate: 7.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 4.86% + gap loan
$3,053/moAssumed loan: $673/mo
Gap financing: $2,380/mo
Your Savings on This Property
3220 Pony Tracks, Colorado Springs · 4.86% 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 ($332,467) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,995, 5% of purchase price) and a second mortgage for the rest ($309,472 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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