Loan Comparison: 4.4% vs 6.5%
3046 22nd Street, Pueblo, CO 81004 · 2bd/1ba · $270,000
List Price
$270,000
Assumable Rate
4.4%
Remaining Balance
$54,487
Equity Gap
$215,512
Loan Type
FHAAdjust Your Scenario
$13,500
$13,500$215,512
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.4% (FHA)
Blended Rate: 6.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 4.4% + gap loan
$1,685/moAssumed loan: $273/mo
Gap financing: $1,412/mo
Your Savings on This Property
3046 22nd Street, Pueblo · 4.4% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($215,512) 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 ($202,012 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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