Loan Comparison: 3.22% vs 6.5%
72 Hanson, Pueblo, CO 81001 · 4bd/2ba · $279,499
List Price
$279,499
Assumable Rate
3.22%
Remaining Balance
$245,669
Equity Gap
$30,287
Loan Type
FHAAdjust Your Scenario
$13,975
$13,975$30,287
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.22% (FHA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,678/moAssumable @ 3.22% + gap loan
$1,191/moAssumed loan: $1,065/mo
Gap financing: $125/mo
$488less per month with the assumable
Your Savings on This Property
72 Hanson, Pueblo · 3.22% FHA vs 6.5% conventional
$488
per month
$5,853
per year
$175,587
over 30 years
$172,044
interest saved
How gap financing works: The equity gap ($30,287) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,975, 5% of purchase price) and a second mortgage for the rest ($16,312 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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