Loan Comparison: 5.52% vs 6.5%
1222 Hartford, Colorado Springs, CO 80906 · 5bd/2ba · $400,000
List Price
$400,000
Assumable Rate
5.52%
Remaining Balance
$372,442
Equity Gap
$27,557
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$27,557
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 5.52% + gap loan
$2,177/moAssumed loan: $2,119/mo
Gap financing: $58/mo
$224less per month with the assumable
Your Savings on This Property
1222 Hartford, Colorado Springs · 5.52% FHA vs 6.5% conventional
$224
per month
$2,693
per year
$80,781
over 30 years
$80,780
interest saved
How gap financing works: The equity gap ($27,557) 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 ($7,557 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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