Loan Comparison: 3.53% vs 6.5%
1116 Beulah, Pueblo, CO 81004 · 2bd/1ba · $183,900
List Price
$183,900
Assumable Rate
3.53%
Remaining Balance
$53,908
Equity Gap
$129,991
Loan Type
FHAAdjust Your Scenario
$9,195
$9,195$129,991
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.53% (FHA)
Blended Rate: 6.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,104/moAssumable @ 3.53% + gap loan
$1,088/moAssumed loan: $243/mo
Gap financing: $845/mo
$17less per month with the assumable
Your Savings on This Property
1116 Beulah, Pueblo · 3.53% FHA vs 6.5% conventional
$17
per month
$200
per year
$5,996
over 30 years
$5,995
interest saved
How gap financing works: The equity gap ($129,991) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,195, 5% of purchase price) and a second mortgage for the rest ($120,796 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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