Loan Comparison: 5.81% vs 6.5%
2213 Sunrise, Pueblo, CO 81008 · 3bd/2ba · $399,900
List Price
$399,900
Assumable Rate
5.81%
Remaining Balance
$370,518
Equity Gap
$29,382
Loan Type
FHAAdjust Your Scenario
$19,995
$19,995$29,382
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.81% (FHA)
Blended Rate: 5.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,401/moAssumable @ 5.81% + gap loan
$2,249/moAssumed loan: $2,176/mo
Gap financing: $72/mo
$153less per month with the assumable
Your Savings on This Property
2213 Sunrise, Pueblo · 5.81% FHA vs 6.5% conventional
$153
per month
$1,832
per year
$54,970
over 30 years
$54,970
interest saved
How gap financing works: The equity gap ($29,382) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,995, 5% of purchase price) and a second mortgage for the rest ($9,387 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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