Loan Comparison: 3.09% vs 6.5%
801 Box Elder Street, Pueblo, CO 81004 · 2bd/1ba · $199,900
List Price
$199,900
Assumable Rate
3.09%
Remaining Balance
$173,681
Equity Gap
$26,219
Loan Type
FHAAdjust Your Scenario
$9,995
$9,995$26,219
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (FHA)
Blended Rate: 3.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,200/moAssumable @ 3.09% + gap loan
$854/moAssumed loan: $741/mo
Gap financing: $113/mo
$346less per month with the assumable
Your Savings on This Property
801 Box Elder Street, Pueblo · 3.09% FHA vs 6.5% conventional
$346
per month
$4,154
per year
$124,627
over 30 years
$124,627
interest saved
How gap financing works: The equity gap ($26,219) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,995, 5% of purchase price) and a second mortgage for the rest ($16,224 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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