Loan Comparison: 6.64% vs 6.5%
817 Maybell Drive, Pueblo West, CO 81007 · 3bd/2ba · $419,900
List Price
$419,900
Assumable Rate
6.64%
Remaining Balance
$366,474
Equity Gap
$53,425
Loan Type
FHAAdjust Your Scenario
$20,995
$20,995$53,425
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.64% (FHA)
Blended Rate: 6.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,521/moAssumable @ 6.64% + gap loan
$2,577/moAssumed loan: $2,350/mo
Gap financing: $227/mo
Your Savings on This Property
817 Maybell Drive, Pueblo West · 6.64% 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 ($53,425) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,995, 5% of purchase price) and a second mortgage for the rest ($32,430 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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