Loan Comparison: 5.41% vs 6.5%
5047 Baseline, Colorado Springs, CO 80920 · 3bd/3ba · $424,900
List Price
$424,900
Assumable Rate
5.41%
Remaining Balance
$387,264
Equity Gap
$37,636
Loan Type
FHAAdjust Your Scenario
$21,245
$21,245$37,636
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,551/moAssumable @ 5.41% + gap loan
$2,303/moAssumed loan: $2,177/mo
Gap financing: $126/mo
$248less per month with the assumable
Your Savings on This Property
5047 Baseline, Colorado Springs · 5.41% FHA vs 6.5% conventional
$248
per month
$2,980
per year
$89,394
over 30 years
$89,394
interest saved
How gap financing works: The equity gap ($37,636) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,245, 5% of purchase price) and a second mortgage for the rest ($16,391 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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