Loan Comparison: 4.15% vs 6.5%
95 Security, Colorado Springs, CO 80911 · 3bd/1ba · $299,900
List Price
$299,900
Assumable Rate
4.15%
Remaining Balance
$147,905
Equity Gap
$151,994
Loan Type
FHAAdjust Your Scenario
$14,995
$14,995$151,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.15% (FHA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4.15% + gap loan
$1,772/moAssumed loan: $719/mo
Gap financing: $1,053/mo
$28less per month with the assumable
Your Savings on This Property
95 Security, Colorado Springs · 4.15% FHA vs 6.5% conventional
$28
per month
$341
per year
$10,231
over 30 years
$10,230
interest saved
How gap financing works: The equity gap ($151,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,995, 5% of purchase price) and a second mortgage for the rest ($136,999 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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