Loan Comparison: 6.33% vs 6.5%
242 Del Ray Drive, Pueblo, CO 81007 · 3bd/2ba · $370,000
List Price
$370,000
Assumable Rate
6.33%
Remaining Balance
$287,637
Equity Gap
$82,362
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$82,362
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.33% (FHA)
Blended Rate: 6.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 6.33% + gap loan
$2,233/moAssumed loan: $1,786/mo
Gap financing: $447/mo
Your Savings on This Property
242 Del Ray Drive, Pueblo · 6.33% 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 ($82,362) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($63,862 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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