Loan Comparison: 3.45% vs 6.5%
1905 8th Street, Pueblo, CO 81001 · 5bd/3ba · $150,000
List Price
$150,000
Assumable Rate
3.45%
Remaining Balance
$138,380
Equity Gap
$11,619
Loan Type
FHAAdjust Your Scenario
$7,500
$7,500$11,619
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 3.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$901/moAssumable @ 3.45% + gap loan
$646/moAssumed loan: $618/mo
Gap financing: $29/mo
$254less per month with the assumable
Your Savings on This Property
1905 8th Street, Pueblo · 3.45% FHA vs 6.5% conventional
$254
per month
$3,052
per year
$91,571
over 30 years
$91,570
interest saved
How gap financing works: The equity gap ($11,619) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,500, 5% of purchase price) and a second mortgage for the rest ($4,119 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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