Loan Comparison: 3.53% vs 6.5%
1116 Beulah Avenue, Pueblo, CO 81004 · 5bd/3ba · $183,000
List Price
$183,000
Assumable Rate
3.53%
Remaining Balance
$54,107
Equity Gap
$128,892
Loan Type
FHAAdjust Your Scenario
$9,150
$9,150$128,892
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.53% (FHA)
Blended Rate: 6.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,099/moAssumable @ 3.53% + gap loan
$1,081/moAssumed loan: $244/mo
Gap financing: $837/mo
$18less per month with the assumable
Your Savings on This Property
1116 Beulah Avenue, Pueblo · 3.53% FHA vs 6.5% conventional
$18
per month
$213
per year
$6,381
over 30 years
$6,380
interest saved
How gap financing works: The equity gap ($128,892) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,150, 5% of purchase price) and a second mortgage for the rest ($119,742 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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