Loan Comparison: 6.94% vs 6.5%
6 Hastings Drive, Pueblo, CO 81001 · 4bd/2ba · $499,000
List Price
$499,000
Assumable Rate
6.94%
Remaining Balance
$464,708
Equity Gap
$34,292
Loan Type
FHAAdjust Your Scenario
$24,950
$24,950$34,292
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.94% (FHA)
Blended Rate: 6.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,996/moAssumable @ 6.94% + gap loan
$3,138/moAssumed loan: $3,073/mo
Gap financing: $65/mo
Your Savings on This Property
6 Hastings Drive, Pueblo · 6.94% 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 ($34,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,950, 5% of purchase price) and a second mortgage for the rest ($9,342 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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