Loan Comparison: 6.12% vs 6.5%
15 Solar Drive, Pueblo, CO 81005 · 3bd/2ba · $264,900
List Price
$264,900
Assumable Rate
6.12%
Remaining Balance
$1,994
Equity Gap
$262,905
Loan Type
FHAAdjust Your Scenario
$13,245
$13,245$262,905
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.12% (FHA)
Blended Rate: 7.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,591/moAssumable @ 6.12% + gap loan
$1,758/moAssumed loan: $12/mo
Gap financing: $1,746/mo
Your Savings on This Property
15 Solar Drive, Pueblo · 6.12% 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 ($262,905) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,245, 5% of purchase price) and a second mortgage for the rest ($249,660 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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