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
$191,613
Equity Gap
$133,386
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$133,386
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 2.9% + gap loan
$1,698/moAssumed loan: $798/mo
Gap financing: $901/mo
$253less per month with the assumable
Your Savings on This Property
441 Oak Creek, Pueblo · 2.9% FHA vs 6.5% conventional
$253
per month
$3,039
per year
$91,183
over 30 years
$91,182
interest saved
How gap financing works: The equity gap ($133,386) 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 ($117,136 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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