Loan Comparison: 5.22% vs 6.5%
2036 Sherwood, Pueblo, CO 81005 · 3bd/2ba · $275,000
List Price
$275,000
Assumable Rate
5.22%
Remaining Balance
$225,314
Equity Gap
$49,685
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$49,685
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (FHA)
Blended Rate: 5.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 5.22% + gap loan
$1,516/moAssumed loan: $1,240/mo
Gap financing: $276/mo
$135less per month with the assumable
Your Savings on This Property
2036 Sherwood, Pueblo · 5.22% FHA vs 6.5% conventional
$135
per month
$1,620
per year
$48,586
over 30 years
$48,585
interest saved
How gap financing works: The equity gap ($49,685) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($35,935 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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