Loan Comparison: 3.59% vs 6.5%
7 Emperor Court, Pueblo, CO 81005 · 3bd/2ba · $315,000
List Price
$315,000
Assumable Rate
3.59%
Remaining Balance
$91,152
Equity Gap
$223,847
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$223,847
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.59% (FHA)
Blended Rate: 6.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 3.59% + gap loan
$1,869/moAssumed loan: $414/mo
Gap financing: $1,455/mo
$23less per month with the assumable
Your Savings on This Property
7 Emperor Court, Pueblo · 3.59% FHA vs 6.5% conventional
$23
per month
$270
per year
$8,105
over 30 years
$8,104
interest saved
How gap financing works: The equity gap ($223,847) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($208,097 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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