Loan Comparison: 5.23% vs 6.5%
1603 Positano, Pueblo, CO 81008 · 2bd/2ba · $329,900
List Price
$329,900
Assumable Rate
5.23%
Remaining Balance
$283,560
Equity Gap
$46,340
Loan Type
FHAAdjust Your Scenario
$16,495
$16,495$46,340
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,981/moAssumable @ 5.23% + gap loan
$1,792/moAssumed loan: $1,562/mo
Gap financing: $229/mo
$189less per month with the assumable
Your Savings on This Property
1603 Positano, Pueblo · 5.23% FHA vs 6.5% conventional
$189
per month
$2,270
per year
$68,088
over 30 years
$68,088
interest saved
How gap financing works: The equity gap ($46,340) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,495, 5% of purchase price) and a second mortgage for the rest ($29,845 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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