Loan Comparison: 5.38% vs 6.5%
2145 McArthur, Colorado Springs, CO 80909 · 4bd/2ba · $395,500
List Price
$395,500
Assumable Rate
5.38%
Remaining Balance
$100,546
Equity Gap
$294,954
Loan Type
FHAAdjust Your Scenario
$19,775
$19,775$294,954
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.38% (FHA)
Blended Rate: 7.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,375/moAssumable @ 5.38% + gap loan
$2,679/moAssumed loan: $563/mo
Gap financing: $2,116/mo
Your Savings on This Property
2145 McArthur, Colorado Springs · 5.38% 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 ($294,954) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,775, 5% of purchase price) and a second mortgage for the rest ($275,179 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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