Loan Comparison: 5.23% vs 6.5%
1603 Positano Court, Pueblo, CO 81008 · 5bd/3ba · $325,000
List Price
$325,000
Assumable Rate
5.23%
Remaining Balance
$282,284
Equity Gap
$42,716
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$42,716
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 5.23% + gap loan
$1,740/moAssumed loan: $1,555/mo
Gap financing: $185/mo
$211less per month with the assumable
Your Savings on This Property
1603 Positano Court, Pueblo · 5.23% FHA vs 6.5% conventional
$211
per month
$2,534
per year
$76,021
over 30 years
$76,021
interest saved
How gap financing works: The equity gap ($42,716) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($26,466 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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