Loan Comparison: 4.16% vs 6.5%
156 Norman, Colorado Springs, CO 80911 · 3bd/2ba · $360,000
List Price
$360,000
Assumable Rate
4.16%
Remaining Balance
$92,827
Equity Gap
$317,173
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$317,173
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.16% (FHA)
Blended Rate: 7.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 4.16% + gap loan
$2,752/moAssumed loan: $452/mo
Gap financing: $2,300/mo
Your Savings on This Property
156 Norman, Colorado Springs · 4.16% 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 ($317,173) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($299,173 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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