Loan Comparison: 5.69% vs 6.5%
804 Cherry Lane, Pueblo, CO 81005 · 3bd/2ba · $224,000
List Price
$224,000
Assumable Rate
5.69%
Remaining Balance
$34,919
Equity Gap
$189,081
Loan Type
FHAAdjust Your Scenario
$11,200
$11,200$189,081
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.69% (FHA)
Blended Rate: 7.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,345/moAssumable @ 5.69% + gap loan
$1,446/moAssumed loan: $202/mo
Gap financing: $1,244/mo
Your Savings on This Property
804 Cherry Lane, Pueblo · 5.69% 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 ($189,081) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,200, 5% of purchase price) and a second mortgage for the rest ($177,881 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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