Loan Comparison: 2.9% vs 6.5%
441 Oak Creek, Pueblo, CO 81007 · 4bd/2ba · $325,000
List Price
$325,000
Assumable Rate
2.9%
Remaining Balance
$191,195
Equity Gap
$133,804
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$133,804
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 2.9% + gap loan
$1,700/moAssumed loan: $796/mo
Gap financing: $904/mo
$252less per month with the assumable
Your Savings on This Property
441 Oak Creek, Pueblo · 2.9% FHA vs 6.5% conventional
$252
per month
$3,022
per year
$90,652
over 30 years
$90,651
interest saved
How gap financing works: The equity gap ($133,804) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($117,554 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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