Loan Comparison: 5.89% vs 6.5%
725 Box Elder, Pueblo, CO 81004 · 2bd/1ba · $203,000
List Price
$203,000
Assumable Rate
5.89%
Remaining Balance
$163,917
Equity Gap
$39,082
Loan Type
FHAAdjust Your Scenario
$10,150
$10,150$39,082
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.89% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,219/moAssumable @ 5.89% + gap loan
$1,194/moAssumed loan: $971/mo
Gap financing: $222/mo
$25less per month with the assumable
Your Savings on This Property
725 Box Elder, Pueblo · 5.89% FHA vs 6.5% conventional
$25
per month
$303
per year
$9,100
over 30 years
$9,099
interest saved
How gap financing works: The equity gap ($39,082) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,150, 5% of purchase price) and a second mortgage for the rest ($28,932 at 8.5%). 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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