Loan Comparison: 5.54% vs 6.5%
2830 4th Avenue, Pueblo, CO 81003 · 3bd/2ba · $250,000
List Price
$250,000
Assumable Rate
5.54%
Remaining Balance
$231,509
Equity Gap
$18,490
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$18,490
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.54% (FHA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 5.54% + gap loan
$1,362/moAssumed loan: $1,320/mo
Gap financing: $42/mo
$139less per month with the assumable
Your Savings on This Property
2830 4th Avenue, Pueblo · 5.54% FHA vs 6.5% conventional
$139
per month
$1,668
per year
$50,033
over 30 years
$50,032
interest saved
How gap financing works: The equity gap ($18,490) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($5,990 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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