Loan Comparison: 3.12% vs 6.5%
1632 2nd, Pueblo, CO 81001 · 4bd/1ba · $200,000
List Price
$200,000
Assumable Rate
3.12%
Remaining Balance
$159,019
Equity Gap
$40,980
Loan Type
FHAAdjust Your Scenario
$10,000
$10,000$40,980
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.12% (FHA)
Blended Rate: 4.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,201/moAssumable @ 3.12% + gap loan
$919/moAssumed loan: $681/mo
Gap financing: $238/mo
$282less per month with the assumable
Your Savings on This Property
1632 2nd, Pueblo · 3.12% FHA vs 6.5% conventional
$282
per month
$3,383
per year
$101,503
over 30 years
$101,502
interest saved
How gap financing works: The equity gap ($40,980) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,000, 5% of purchase price) and a second mortgage for the rest ($30,980 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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