Loan Comparison: 5.5% vs 6.5%
35 Roosevelt, Colorado Springs, CO 80910 · 3bd/2ba · $372,000
List Price
$372,000
Assumable Rate
5.5%
Remaining Balance
$48,071
Equity Gap
$323,928
Loan Type
FHAAdjust Your Scenario
$18,600
$18,600$323,928
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.5% (FHA)
Blended Rate: 8.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,234/moAssumable @ 5.5% + gap loan
$2,621/moAssumed loan: $273/mo
Gap financing: $2,348/mo
Your Savings on This Property
35 Roosevelt, 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 ($323,928) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,600, 5% of purchase price) and a second mortgage for the rest ($305,328 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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