Loan Comparison: 3.07% vs 6.5%
635 Beulah, Pueblo, CO 81004 · 2bd/1ba · $195,000
List Price
$195,000
Assumable Rate
3.07%
Remaining Balance
$141,871
Equity Gap
$53,128
Loan Type
FHAAdjust Your Scenario
$9,750
$9,750$53,128
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 4.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,171/moAssumable @ 3.07% + gap loan
$937/moAssumed loan: $604/mo
Gap financing: $334/mo
$234less per month with the assumable
Your Savings on This Property
635 Beulah, Pueblo · 3.07% FHA vs 6.5% conventional
$234
per month
$2,806
per year
$84,191
over 30 years
$84,190
interest saved
How gap financing works: The equity gap ($53,128) 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 ($43,378 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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