Loan Comparison: 4.14% vs 6.5%
44 Dartmouth, Colorado Springs, CO 80911 · 5bd/3ba · $399,900
List Price
$399,900
Assumable Rate
4.14%
Remaining Balance
$253,847
Equity Gap
$146,053
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$146,053
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 4.14% + gap loan
$2,202/moAssumed loan: $1,232/mo
Gap financing: $969/mo
$199less per month with the assumable
Your Savings on This Property
44 Dartmouth, Colorado Springs · 4.14% FHA vs 6.5% conventional
$199
per month
$2,394
per year
$71,820
over 30 years
$71,820
interest saved
How gap financing works: The equity gap ($146,053) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($126,058 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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