Loan Comparison: 3.02% vs 6.5%
1912 Greenwood, Pueblo, CO 81003 · 4bd/2ba · $345,000
List Price
$345,000
Assumable Rate
3.02%
Remaining Balance
$325,356
Equity Gap
$19,644
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$19,644
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 3.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 3.02% + gap loan
$1,394/moAssumed loan: $1,375/mo
Gap financing: $18/mo
$678less per month with the assumable
Your Savings on This Property
1912 Greenwood, Pueblo · 3.02% FHA vs 6.5% conventional
$678
per month
$8,136
per year
$244,069
over 30 years
$244,069
interest saved
How gap financing works: The equity gap ($19,644) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($2,394 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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