Loan Comparison: 3.12% vs 6.5%
2321 Montezuma, Pueblo, CO 81003 · 3bd/2ba · $250,000
List Price
$250,000
Assumable Rate
3.12%
Remaining Balance
$225,703
Equity Gap
$24,297
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$24,297
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.12% (FHA)
Blended Rate: 3.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.12% + gap loan
$1,057/moAssumed loan: $966/mo
Gap financing: $91/mo
$444less per month with the assumable
Your Savings on This Property
2321 Montezuma, Pueblo · 3.12% FHA vs 6.5% conventional
$444
per month
$5,331
per year
$159,916
over 30 years
$159,916
interest saved
How gap financing works: The equity gap ($24,297) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($11,797 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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