Loan Comparison: 5.89% vs 6.5%
725 Box Elder, Pueblo, CO 81004 · 2bd/1ba · $190,000
List Price
$190,000
Assumable Rate
5.89%
Remaining Balance
$163,704
Equity Gap
$26,296
Loan Type
FHAAdjust Your Scenario
$9,500
$9,500$26,296
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.89% (FHA)
Blended Rate: 6.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,141/moAssumable @ 5.89% + gap loan
$1,099/moAssumed loan: $970/mo
Gap financing: $129/mo
$42less per month with the assumable
Your Savings on This Property
725 Box Elder, Pueblo · 5.89% FHA vs 6.5% conventional
$42
per month
$502
per year
$15,046
over 30 years
$15,046
interest saved
How gap financing works: The equity gap ($26,296) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,500, 5% of purchase price) and a second mortgage for the rest ($16,796 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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