Loan Comparison: 4.98% vs 6.5%
5869 Spring Breeze, Colorado Springs, CO 80923 · 3bd/3ba · $489,999
List Price
$489,999
Assumable Rate
4.98%
Remaining Balance
$439,155
Equity Gap
$67,084
Loan Type
FHAAdjust Your Scenario
$24,500
$24,500$67,084
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,942/moAssumable @ 4.98% + gap loan
$2,680/moAssumed loan: $2,352/mo
Gap financing: $327/mo
$263less per month with the assumable
Your Savings on This Property
5869 Spring Breeze, Colorado Springs · 4.98% FHA vs 6.5% conventional
$263
per month
$3,153
per year
$94,580
over 30 years
$110,820
interest saved
How gap financing works: The equity gap ($67,084) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,500, 5% of purchase price) and a second mortgage for the rest ($42,584 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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