Loan Comparison: 5.52% vs 6.5%
1522 Wynkoop, Colorado Springs, CO 80909 · 5bd/2ba · $379,000
List Price
$379,000
Assumable Rate
5.52%
Remaining Balance
$352,827
Equity Gap
$26,173
Loan Type
FHAAdjust Your Scenario
$18,950
$18,950$26,173
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 5.52% + gap loan
$2,063/moAssumed loan: $2,008/mo
Gap financing: $56/mo
$212less per month with the assumable
Your Savings on This Property
1522 Wynkoop, Colorado Springs · 5.52% FHA vs 6.5% conventional
$212
per month
$2,550
per year
$76,493
over 30 years
$76,493
interest saved
How gap financing works: The equity gap ($26,173) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($7,223 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.
🏠
Back to This Listing
View photos, details, and request a showing for 1522 Wynkoop.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.