Loan Comparison: 7.79% vs 6.5%
1209 Orman Avenue, Pueblo, CO 81004 · 2bd/1ba · $185,000
List Price
$185,000
Assumable Rate
7.79%
Remaining Balance
$133,475
Equity Gap
$51,524
Loan Type
FHAAdjust Your Scenario
$9,250
$9,250$51,524
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.79% (FHA)
Blended Rate: 7.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,111/moAssumable @ 7.79% + gap loan
$1,256/moAssumed loan: $960/mo
Gap financing: $296/mo
Your Savings on This Property
1209 Orman Avenue, 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 ($51,524) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,250, 5% of purchase price) and a second mortgage for the rest ($42,274 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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