Loan Comparison: 4.46% vs 6.5%
905 Hallam, Colorado Springs, CO 80911 · 3bd/2ba · $355,000
List Price
$355,000
Assumable Rate
4.46%
Remaining Balance
$262,745
Equity Gap
$159,455
Loan Type
FHAAdjust Your Scenario
$17,750
$17,750$159,455
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 4.46% + gap loan
$2,415/moAssumed loan: $1,325/mo
Gap financing: $1,090/mo
Your Savings on This Property
905 Hallam, Colorado Springs · 4.46% 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 ($159,455) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($141,705 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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