Loan Comparison: 4.07% vs 6.5%
4310 Loomis, Colorado Springs, CO 80906 · 10bd/4ba · $530,000
List Price
$530,000
Assumable Rate
4.07%
Remaining Balance
$411,406
Equity Gap
$421,688
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$421,688
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 4.07% + gap loan
$5,019/moAssumed loan: $1,981/mo
Gap financing: $3,039/mo
Your Savings on This Property
4310 Loomis, Colorado Springs · 4.07% 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 ($421,688) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($395,188 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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