Loan Comparison: 3.07% vs 6.5%
635 Beulah, Pueblo, CO 81004 · 2bd/1ba · $210,000
List Price
$210,000
Assumable Rate
3.07%
Remaining Balance
$142,172
Equity Gap
$67,827
Loan Type
FHAAdjust Your Scenario
$10,500
$10,500$67,827
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,261/moAssumable @ 3.07% + gap loan
$1,046/moAssumed loan: $605/mo
Gap financing: $441/mo
$215less per month with the assumable
Your Savings on This Property
635 Beulah, Pueblo · 3.07% FHA vs 6.5% conventional
$215
per month
$2,585
per year
$77,543
over 30 years
$77,542
interest saved
How gap financing works: The equity gap ($67,827) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,500, 5% of purchase price) and a second mortgage for the rest ($57,327 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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