Loan Comparison: 4.15% vs 6.5%
95 Security, Colorado Springs, CO 80911 · 3bd/1ba · $319,000
List Price
$319,000
Assumable Rate
4.15%
Remaining Balance
$180,644
Equity Gap
$171,094
Loan Type
FHAAdjust Your Scenario
$15,950
$15,950$171,094
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.15% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,915/moAssumable @ 4.15% + gap loan
$2,071/moAssumed loan: $878/mo
Gap financing: $1,193/mo
Your Savings on This Property
95 Security, Colorado Springs · 4.15% 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 ($171,094) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,950, 5% of purchase price) and a second mortgage for the rest ($155,144 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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