Loan Comparison: 6.29% vs 6.5%
181 Kipling Drive, Pueblo West, CO 81007 · 4bd/3ba · $229,999
List Price
$229,999
Assumable Rate
6.29%
Remaining Balance
$201,047
Equity Gap
$28,952
Loan Type
FHAAdjust Your Scenario
$11,500
$11,500$28,952
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.29% (FHA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,381/moAssumable @ 6.29% + gap loan
$1,365/moAssumed loan: $1,243/mo
Gap financing: $122/mo
$16less per month with the assumable
Your Savings on This Property
181 Kipling Drive, Pueblo West · 6.29% FHA vs 6.5% conventional
$16
per month
$191
per year
$5,731
over 30 years
$5,731
interest saved
How gap financing works: The equity gap ($28,952) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,500, 5% of purchase price) and a second mortgage for the rest ($17,452 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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