Loan Comparison: 3.65% vs 6.5%
36 Wheatridge Drive, Pueblo, CO 81005 · 5bd/3ba · $275,000
List Price
$275,000
Assumable Rate
3.65%
Remaining Balance
$101,620
Equity Gap
$173,379
Loan Type
FHAAdjust Your Scenario
$13,750
$13,750$173,379
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.65% (FHA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,651/moAssumable @ 3.65% + gap loan
$1,581/moAssumed loan: $465/mo
Gap financing: $1,116/mo
$70less per month with the assumable
Your Savings on This Property
36 Wheatridge Drive, Pueblo · 3.65% FHA vs 6.5% conventional
$70
per month
$843
per year
$25,293
over 30 years
$25,292
interest saved
How gap financing works: The equity gap ($173,379) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,750, 5% of purchase price) and a second mortgage for the rest ($159,629 at 7.5%). 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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