Loan Comparison: 4.14% vs 6.5%
15 MacAlester Road, Pueblo, CO 81001 · 5bd/3ba · $239,900
List Price
$239,900
Assumable Rate
4.14%
Remaining Balance
$103,698
Equity Gap
$136,202
Loan Type
FHAAdjust Your Scenario
$11,995
$11,995$136,202
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 4.14% + gap loan
$1,372/moAssumed loan: $503/mo
Gap financing: $868/mo
$69less per month with the assumable
Your Savings on This Property
15 MacAlester Road, Pueblo · 4.14% FHA vs 6.5% conventional
$69
per month
$823
per year
$24,683
over 30 years
$24,683
interest saved
How gap financing works: The equity gap ($136,202) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($124,207 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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