Loan Comparison: 3.05% vs 6.5%
72 Hanson Lane, Pueblo, CO 81001 · 4bd/2ba · $269,999
List Price
$269,999
Assumable Rate
3.05%
Remaining Balance
$242,937
Equity Gap
$27,062
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$27,062
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (FHA)
Blended Rate: 3.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 3.05% + gap loan
$1,126/moAssumed loan: $1,031/mo
Gap financing: $95/mo
$496less per month with the assumable
Your Savings on This Property
72 Hanson Lane, Pueblo · 3.05% FHA vs 6.5% conventional
$496
per month
$5,948
per year
$178,425
over 30 years
$178,425
interest saved
How gap financing works: The equity gap ($27,062) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($13,562 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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