Loan Comparison: 3.64% vs 6.5%
316 Orman, Pueblo, CO 81004 · 5bd/3ba · $410,000
List Price
$410,000
Assumable Rate
3.64%
Remaining Balance
$184,907
Equity Gap
$225,092
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$225,092
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (FHA)
Blended Rate: 6.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 3.64% + gap loan
$2,418/moAssumed loan: $845/mo
Gap financing: $1,573/mo
$44less per month with the assumable
Your Savings on This Property
316 Orman, Pueblo · 3.64% FHA vs 6.5% conventional
$44
per month
$527
per year
$15,817
over 30 years
$15,816
interest saved
How gap financing works: The equity gap ($225,092) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($204,592 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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