Loan Comparison: 3.09% vs 6.5%
1506 Ogden, Pueblo, CO 81001 · 3bd/1ba · $239,900
List Price
$239,900
Assumable Rate
3.09%
Remaining Balance
$195,257
Equity Gap
$44,642
Loan Type
FHAAdjust Your Scenario
$11,995
$11,995$44,642
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (FHA)
Blended Rate: 3.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 3.09% + gap loan
$1,084/moAssumed loan: $833/mo
Gap financing: $251/mo
$357less per month with the assumable
Your Savings on This Property
1506 Ogden, Pueblo · 3.09% FHA vs 6.5% conventional
$357
per month
$4,281
per year
$128,437
over 30 years
$128,436
interest saved
How gap financing works: The equity gap ($44,642) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($32,647 at 8.5%). 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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