Loan Comparison: 4.13% vs 6.5%
1314 Delaware, Colorado Springs, CO 80909 · 4bd/1ba · $363,750
List Price
$363,750
Assumable Rate
4.13%
Remaining Balance
$101,688
Equity Gap
$262,062
Loan Type
FHAAdjust Your Scenario
$18,188
$18,188$262,062
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.13% (FHA)
Blended Rate: 7.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,184/moAssumable @ 4.13% + gap loan
$2,368/moAssumed loan: $493/mo
Gap financing: $1,875/mo
Your Savings on This Property
1314 Delaware, Colorado Springs · 4.13% 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 ($262,062) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,188, 5% of purchase price) and a second mortgage for the rest ($243,874 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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