Loan Comparison: 5.22% vs 6.5%
6973 Yellowpine, Colorado Springs, CO 80919 · 2bd/1ba · $285,000
List Price
$285,000
Assumable Rate
5.22%
Remaining Balance
$265,767
Equity Gap
$19,232
Loan Type
FHAAdjust Your Scenario
$14,250
$14,250$19,232
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,711/moAssumable @ 5.22% + gap loan
$1,501/moAssumed loan: $1,463/mo
Gap financing: $38/mo
$210less per month with the assumable
Your Savings on This Property
6973 Yellowpine, Colorado Springs · 5.22% FHA vs 6.5% conventional
$210
per month
$2,525
per year
$75,735
over 30 years
$75,734
interest saved
How gap financing works: The equity gap ($19,232) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,250, 5% of purchase price) and a second mortgage for the rest ($4,982 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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