Loan Comparison: 5.41% vs 6.5%
6935 Cattlemans, Colorado Springs, CO 80911 · 4bd/2ba · $335,000
List Price
$335,000
Assumable Rate
5.41%
Remaining Balance
$146,975
Equity Gap
$188,025
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$188,025
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.41% (FHA)
Blended Rate: 7.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 5.41% + gap loan
$2,143/moAssumed loan: $826/mo
Gap financing: $1,317/mo
Your Savings on This Property
6935 Cattlemans, Colorado Springs · 5.41% 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 ($188,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($171,275 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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