Loan Comparison: 3.22% vs 6.5%
72 Hanson, Pueblo, CO 81001 · 4bd/2ba · $284,400
List Price
$284,400
Assumable Rate
3.22%
Remaining Balance
$246,688
Equity Gap
$37,711
Loan Type
FHAAdjust Your Scenario
$14,220
$14,220$37,711
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.22% (FHA)
Blended Rate: 3.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,708/moAssumable @ 3.22% + gap loan
$1,250/moAssumed loan: $1,070/mo
Gap financing: $181/mo
$458less per month with the assumable
Your Savings on This Property
72 Hanson, Pueblo · 3.22% FHA vs 6.5% conventional
$458
per month
$5,491
per year
$164,719
over 30 years
$164,718
interest saved
How gap financing works: The equity gap ($37,711) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,220, 5% of purchase price) and a second mortgage for the rest ($23,491 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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