Loan Comparison: 4.47% vs 6.5%
3265 Foxridge, Colorado Springs, CO 80916 · 4bd/2ba · $375,000
List Price
$375,000
Assumable Rate
4.47%
Remaining Balance
$237,208
Equity Gap
$177,792
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$177,792
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.47% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 4.47% + gap loan
$2,421/moAssumed loan: $1,198/mo
Gap financing: $1,223/mo
Your Savings on This Property
3265 Foxridge, Colorado Springs · 4.47% 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 ($177,792) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($159,042 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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