Loan Comparison: 5.23% vs 6.5%
1603 Positano, Pueblo, CO 81008 · 2bd/2ba · $332,900
List Price
$332,900
Assumable Rate
5.23%
Remaining Balance
$283,560
Equity Gap
$48,918
Loan Type
FHAAdjust Your Scenario
$16,645
$16,645$48,918
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,999/moAssumable @ 5.23% + gap loan
$1,810/moAssumed loan: $1,562/mo
Gap financing: $248/mo
$188less per month with the assumable
Your Savings on This Property
1603 Positano, Pueblo · 5.23% FHA vs 6.5% conventional
$188
per month
$2,262
per year
$67,852
over 30 years
$67,430
interest saved
How gap financing works: The equity gap ($48,918) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,645, 5% of purchase price) and a second mortgage for the rest ($32,273 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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