Loan Comparison: 5.5% vs 6.5%
6517 Whistle Bay, Colorado Springs, CO 80923 · 3bd/3ba · $484,900
List Price
$484,900
Assumable Rate
5.5%
Remaining Balance
$144,737
Equity Gap
$340,162
Loan Type
FHAAdjust Your Scenario
$24,245
$24,245$340,162
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 7.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 5.5% + gap loan
$3,251/moAssumed loan: $822/mo
Gap financing: $2,429/mo
Your Savings on This Property
6517 Whistle Bay, Colorado Springs · 5.5% 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 ($340,162) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,245, 5% of purchase price) and a second mortgage for the rest ($315,917 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.
🏠
Back to This Listing
View photos, details, and request a showing for 6517 Whistle Bay.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.