Loan Comparison: 6.27% vs 6.5%
43 Fordham Circle, Pueblo, CO 81005 · 2bd/1ba · $308,000
List Price
$308,000
Assumable Rate
6.27%
Remaining Balance
$259,443
Equity Gap
$48,556
Loan Type
FHAAdjust Your Scenario
$15,400
$15,400$48,556
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (FHA)
Blended Rate: 6.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,849/moAssumable @ 6.27% + gap loan
$1,833/moAssumed loan: $1,601/mo
Gap financing: $232/mo
$17less per month with the assumable
Your Savings on This Property
43 Fordham Circle, Pueblo · 6.27% FHA vs 6.5% conventional
$17
per month
$201
per year
$6,044
over 30 years
$6,043
interest saved
How gap financing works: The equity gap ($48,556) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,400, 5% of purchase price) and a second mortgage for the rest ($33,156 at 7.5%). 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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