Loan Comparison: 6.49% vs 6.5%
2803 16th Street, Pueblo, CO 81001 · 3bd/3ba · $249,900
List Price
$249,900
Assumable Rate
6.49%
Remaining Balance
$216,874
Equity Gap
$33,026
Loan Type
FHAAdjust Your Scenario
$12,495
$12,495$33,026
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.49% (FHA)
Blended Rate: 6.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 6.49% + gap loan
$1,513/moAssumed loan: $1,369/mo
Gap financing: $144/mo
Your Savings on This Property
2803 16th Street, Pueblo · 6.49% 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 ($33,026) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,495, 5% of purchase price) and a second mortgage for the rest ($20,531 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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