Loan Comparison: 5.51% vs 6.5%
40 Lyons, Pueblo, CO 81007 · 3bd/2ba · $456,000
List Price
$456,000
Assumable Rate
5.51%
Remaining Balance
$380,644
Equity Gap
$73,219
Loan Type
FHAAdjust Your Scenario
$22,800
$22,800$73,219
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.51% (FHA)
Blended Rate: 5.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,738/moAssumable @ 5.51% + gap loan
$2,551/moAssumed loan: $2,164/mo
Gap financing: $388/mo
$187less per month with the assumable
Your Savings on This Property
40 Lyons, Pueblo · 5.51% FHA vs 6.5% conventional
$187
per month
$2,242
per year
$67,247
over 30 years
$65,110
interest saved
How gap financing works: The equity gap ($73,219) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,800, 5% of purchase price) and a second mortgage for the rest ($50,419 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.