Loan Comparison: 5.66% vs 6.5%
2830 4th, Pueblo, CO 81003 · 3bd/1ba · $257,000
List Price
$257,000
Assumable Rate
5.66%
Remaining Balance
$241,398
Equity Gap
$24,564
Loan Type
FHAAdjust Your Scenario
$12,850
$12,850$24,564
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.66% (FHA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,543/moAssumable @ 5.66% + gap loan
$1,485/moAssumed loan: $1,395/mo
Gap financing: $90/mo
$58less per month with the assumable
Your Savings on This Property
2830 4th, Pueblo · 5.66% FHA vs 6.5% conventional
$58
per month
$698
per year
$20,938
over 30 years
$29,900
interest saved
How gap financing works: The equity gap ($24,564) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,850, 5% of purchase price) and a second mortgage for the rest ($11,714 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.