Loan Comparison: 4.53% vs 6.5%
4538 Excalibur, Colorado Springs, CO 80917 · 2bd/1ba · $255,500
List Price
$255,500
Assumable Rate
4.53%
Remaining Balance
$144,608
Equity Gap
$110,580
Loan Type
FHAAdjust Your Scenario
$12,775
$12,775$110,580
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.53% (FHA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,534/moAssumable @ 4.53% + gap loan
$1,487/moAssumed loan: $735/mo
Gap financing: $752/mo
$47less per month with the assumable
Your Savings on This Property
4538 Excalibur, Colorado Springs · 4.53% FHA vs 6.5% conventional
$47
per month
$562
per year
$16,871
over 30 years
$16,559
interest saved
How gap financing works: The equity gap ($110,580) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,775, 5% of purchase price) and a second mortgage for the rest ($97,805 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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