Loan Comparison: 3.75% vs 6.5%
909 11th, Pueblo, CO 81001 · 2bd/1ba · $115,000
List Price
$115,000
Assumable Rate
3.75%
Remaining Balance
$93,455
Equity Gap
$21,544
Loan Type
FHAAdjust Your Scenario
$5,750
$5,750$21,544
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 4.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$691/moAssumable @ 3.75% + gap loan
$554/moAssumed loan: $433/mo
Gap financing: $121/mo
$136less per month with the assumable
Your Savings on This Property
909 11th, Pueblo · 3.75% FHA vs 6.5% conventional
$136
per month
$1,635
per year
$49,063
over 30 years
$49,062
interest saved
How gap financing works: The equity gap ($21,544) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($5,750, 5% of purchase price) and a second mortgage for the rest ($15,794 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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