Loan Comparison: 4.07% vs 6.5%
4660 Excalibur, Colorado Springs, CO 80917 · 3bd/2ba · $270,000
List Price
$270,000
Assumable Rate
4.07%
Remaining Balance
$194,913
Equity Gap
$82,180
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$82,180
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 5.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 4.07% + gap loan
$1,467/moAssumed loan: $938/mo
Gap financing: $528/mo
$155less per month with the assumable
Your Savings on This Property
4660 Excalibur, Colorado Springs · 4.07% FHA vs 6.5% conventional
$155
per month
$1,857
per year
$55,705
over 30 years
$62,798
interest saved
How gap financing works: The equity gap ($82,180) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($68,680 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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