Loan Comparison: 2.71% vs 6.5%
3940 Hollybrook, Pueblo, CO 81005 · 4bd/2ba · $279,000
List Price
$279,000
Assumable Rate
2.71%
Remaining Balance
$193,990
Equity Gap
$85,010
Loan Type
FHAAdjust Your Scenario
$13,950
$13,950$85,010
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.71% (FHA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 2.71% + gap loan
$1,334/moAssumed loan: $788/mo
Gap financing: $546/mo
$341less per month with the assumable
Your Savings on This Property
3940 Hollybrook, Pueblo · 2.71% FHA vs 6.5% conventional
$341
per month
$4,093
per year
$122,783
over 30 years
$122,783
interest saved
How gap financing works: The equity gap ($85,010) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($71,060 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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