Loan Comparison: 4.51% vs 6.5%
2215 Wimbleton, Colorado Springs, CO 80920 · 5bd/4ba · $665,900
List Price
$665,900
Assumable Rate
4.51%
Remaining Balance
$221,849
Equity Gap
$444,050
Loan Type
FHAAdjust Your Scenario
$33,295
$33,295$444,050
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.51% (FHA)
Blended Rate: 7.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,998/moAssumable @ 4.51% + gap loan
$4,284/moAssumed loan: $1,125/mo
Gap financing: $3,158/mo
Your Savings on This Property
2215 Wimbleton, Colorado Springs · 4.51% 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 ($444,050) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,295, 5% of purchase price) and a second mortgage for the rest ($410,755 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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