Loan Comparison: 4.72% vs 6.5%
1047 Pine Street, Pueblo, CO 81004 · 3bd/2ba · $235,000
List Price
$235,000
Assumable Rate
4.72%
Remaining Balance
$206,653
Equity Gap
$28,346
Loan Type
FHAAdjust Your Scenario
$11,750
$11,750$28,346
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.72% (FHA)
Blended Rate: 4.93%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,411/moAssumable @ 4.72% + gap loan
$1,190/moAssumed loan: $1,074/mo
Gap financing: $116/mo
$221less per month with the assumable
Your Savings on This Property
1047 Pine Street, Pueblo · 4.72% FHA vs 6.5% conventional
$221
per month
$2,649
per year
$79,482
over 30 years
$79,481
interest saved
How gap financing works: The equity gap ($28,346) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,750, 5% of purchase price) and a second mortgage for the rest ($16,596 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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