Loan Comparison: 4.05% vs 6.5%
8550 Salsifa, Colorado Springs, CO 80920 · 3bd/3ba · $492,000
List Price
$492,000
Assumable Rate
4.05%
Remaining Balance
$295,945
Equity Gap
$265,563
Loan Type
FHAAdjust Your Scenario
$24,600
$24,600$265,563
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.05% (FHA)
Blended Rate: 6.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,954/moAssumable @ 4.05% + gap loan
$3,274/moAssumed loan: $1,421/mo
Gap financing: $1,853/mo
Your Savings on This Property
8550 Salsifa, Colorado Springs · 4.05% 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 ($265,563) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,600, 5% of purchase price) and a second mortgage for the rest ($240,963 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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