Loan Comparison: 5.41% vs 6.5%
8317 Chasewood, Colorado Springs, CO 80908 · 4bd/4ba · $530,000
List Price
$530,000
Assumable Rate
5.41%
Remaining Balance
$388,421
Equity Gap
$141,579
Loan Type
FHAAdjust Your Scenario
$26,500
$26,500$141,579
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 6.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 5.41% + gap loan
$3,068/moAssumed loan: $2,184/mo
Gap financing: $885/mo
$114less per month with the assumable
Your Savings on This Property
8317 Chasewood, Colorado Springs · 5.41% FHA vs 6.5% conventional
$114
per month
$1,369
per year
$41,067
over 30 years
$41,067
interest saved
How gap financing works: The equity gap ($141,579) 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 ($115,079 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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