Loan Comparison: 5.3% vs 6.5%
2213 Sunrise Lane, Pueblo, CO 81008 · 4bd/3ba · $399,900
List Price
$399,900
Assumable Rate
5.3%
Remaining Balance
$366,511
Equity Gap
$33,389
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$33,389
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (FHA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 5.3% + gap loan
$2,129/moAssumed loan: $2,035/mo
Gap financing: $94/mo
$272less per month with the assumable
Your Savings on This Property
2213 Sunrise Lane, Pueblo · 5.3% FHA vs 6.5% conventional
$272
per month
$3,268
per year
$98,047
over 30 years
$98,047
interest saved
How gap financing works: The equity gap ($33,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($13,394 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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