Loan Comparison: 4.27% vs 6.5%
2631 Norwich, Pueblo, CO 81003 · 2bd/1ba · $195,000
List Price
$195,000
Assumable Rate
4.27%
Remaining Balance
$112,083
Equity Gap
$82,916
Loan Type
FHAAdjust Your Scenario
$9,750
$9,750$82,916
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (FHA)
Blended Rate: 5.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,171/moAssumable @ 4.27% + gap loan
$1,115/moAssumed loan: $553/mo
Gap financing: $563/mo
$56less per month with the assumable
Your Savings on This Property
2631 Norwich, Pueblo · 4.27% FHA vs 6.5% conventional
$56
per month
$668
per year
$20,026
over 30 years
$20,025
interest saved
How gap financing works: The equity gap ($82,916) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,750, 5% of purchase price) and a second mortgage for the rest ($73,166 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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