Loan Comparison: 5.66% vs 6.5%
2830 4th, Pueblo, CO 81003 · 3bd/1ba · $250,000
List Price
$250,000
Assumable Rate
5.66%
Remaining Balance
$232,435
Equity Gap
$17,564
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$17,564
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.66% (FHA)
Blended Rate: 5.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 5.66% + gap loan
$1,382/moAssumed loan: $1,343/mo
Gap financing: $39/mo
$119less per month with the assumable
Your Savings on This Property
2830 4th, Pueblo · 5.66% FHA vs 6.5% conventional
$119
per month
$1,429
per year
$42,860
over 30 years
$42,859
interest saved
How gap financing works: The equity gap ($17,564) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($5,064 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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