Loan Comparison: 6.06% vs 6.5%
1929 15th Street, Pueblo, CO 81001 · 5bd/2ba · $129,900
List Price
$129,900
Assumable Rate
6.06%
Remaining Balance
$122,001
Equity Gap
$7,899
Loan Type
FHAAdjust Your Scenario
$6,495
$6,495$7,899
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.06% (FHA)
Blended Rate: 6.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$780/moAssumable @ 6.06% + gap loan
$746/moAssumed loan: $736/mo
Gap financing: $10/mo
$34less per month with the assumable
Your Savings on This Property
1929 15th Street, Pueblo · 6.06% FHA vs 6.5% conventional
$34
per month
$408
per year
$12,246
over 30 years
$12,246
interest saved
How gap financing works: The equity gap ($7,899) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($6,495, 5% of purchase price) and a second mortgage for the rest ($1,404 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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