Loan Comparison: 6.09% vs 6.5%
366 Earl Place, Pueblo West, CO 81007 · 2bd/1ba · $379,999
List Price
$379,999
Assumable Rate
6.09%
Remaining Balance
$286,515
Equity Gap
$93,484
Loan Type
FHAAdjust Your Scenario
$19,000
$19,000$93,484
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.09% (FHA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 6.09% + gap loan
$2,255/moAssumed loan: $1,734/mo
Gap financing: $521/mo
$27less per month with the assumable
Your Savings on This Property
366 Earl Place, Pueblo West · 6.09% FHA vs 6.5% conventional
$27
per month
$318
per year
$9,555
over 30 years
$9,555
interest saved
How gap financing works: The equity gap ($93,484) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($74,484 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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