Loan Comparison: 2.9% vs 6.5%
441 Oak Creek, Pueblo, CO 81007 · 4bd/2ba · $330,000
List Price
$330,000
Assumable Rate
2.9%
Remaining Balance
$192,030
Equity Gap
$137,554
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$137,554
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 2.9% + gap loan
$1,730/moAssumed loan: $799/mo
Gap financing: $931/mo
$251less per month with the assumable
Your Savings on This Property
441 Oak Creek, Pueblo · 2.9% FHA vs 6.5% conventional
$251
per month
$3,017
per year
$90,521
over 30 years
$90,105
interest saved
How gap financing works: The equity gap ($137,554) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($121,054 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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