Loan Comparison: 5.25% vs 6.5%
8261 Cypress Wood, Colorado Springs, CO 80927 · 5bd/4ba · $524,900
List Price
$524,900
Assumable Rate
5.25%
Remaining Balance
$469,944
Equity Gap
$53,855
Loan Type
FHAAdjust Your Scenario
$26,245
$26,245$53,855
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.25% (FHA)
Blended Rate: 5.43%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 5.25% + gap loan
$2,807/moAssumed loan: $2,595/mo
Gap financing: $212/mo
$344less per month with the assumable
Your Savings on This Property
8261 Cypress Wood, Colorado Springs · 5.25% FHA vs 6.5% conventional
$344
per month
$4,134
per year
$124,018
over 30 years
$122,917
interest saved
How gap financing works: The equity gap ($53,855) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,245, 5% of purchase price) and a second mortgage for the rest ($27,610 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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