Loan Comparison: 4.56% vs 6.5%
1409 Caramillo, Colorado Springs, CO 80909 · 8bd/4ba · $629,900
List Price
$629,900
Assumable Rate
4.56%
Remaining Balance
$116,296
Equity Gap
$514,081
Loan Type
FHAAdjust Your Scenario
$31,495
$31,495$514,081
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.56% (FHA)
Blended Rate: 7.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,782/moAssumable @ 4.56% + gap loan
$4,304/moAssumed loan: $593/mo
Gap financing: $3,711/mo
Your Savings on This Property
1409 Caramillo, Colorado Springs · 4.56% 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 ($514,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,495, 5% of purchase price) and a second mortgage for the rest ($482,586 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 1409 Caramillo.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.