Loan Comparison: 7.79% vs 6.5%
1640 Jackson Street, Pueblo, CO 81004 · 4bd/1ba · $199,000
List Price
$199,000
Assumable Rate
7.79%
Remaining Balance
$6,740
Equity Gap
$192,260
Loan Type
FHAAdjust Your Scenario
$9,950
$9,950$192,260
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.79% (FHA)
Blended Rate: 7.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,195/moAssumable @ 7.79% + gap loan
$1,323/moAssumed loan: $48/mo
Gap financing: $1,275/mo
Your Savings on This Property
1640 Jackson Street, Pueblo · 7.79% 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 ($192,260) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,950, 5% of purchase price) and a second mortgage for the rest ($182,310 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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