Loan Comparison: 4.5% vs 6.5%
4810 Constitution, Colorado Springs, CO 80915 · 6bd/4ba · $540,000
List Price
$540,000
Assumable Rate
4.5%
Remaining Balance
$110,120
Equity Gap
$445,981
Loan Type
FHAAdjust Your Scenario
$27,000
$27,000$445,981
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.5% (FHA)
Blended Rate: 7.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,243/moAssumable @ 4.5% + gap loan
$3,780/moAssumed loan: $558/mo
Gap financing: $3,222/mo
Your Savings on This Property
4810 Constitution, Colorado Springs · 4.5% 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 ($445,981) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,000, 5% of purchase price) and a second mortgage for the rest ($418,981 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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