Loan Comparison: 5.51% vs 6.5%
40 Lyons, Pueblo, CO 81007 · 3bd/2ba · $459,000
List Price
$459,000
Assumable Rate
5.51%
Remaining Balance
$381,717
Equity Gap
$77,282
Loan Type
FHAAdjust Your Scenario
$22,950
$22,950$77,282
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.51% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,756/moAssumable @ 5.51% + gap loan
$2,588/moAssumed loan: $2,170/mo
Gap financing: $418/mo
$169less per month with the assumable
Your Savings on This Property
40 Lyons, Pueblo · 5.51% FHA vs 6.5% conventional
$169
per month
$2,023
per year
$60,705
over 30 years
$60,704
interest saved
How gap financing works: The equity gap ($77,282) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,950, 5% of purchase price) and a second mortgage for the rest ($54,332 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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