Loan Comparison: 3.89% vs 6.5%
1905 8th, Pueblo, CO 81001 · 2bd/1ba · $155,000
List Price
$155,000
Assumable Rate
3.89%
Remaining Balance
$139,812
Equity Gap
$15,187
Loan Type
FHAAdjust Your Scenario
$7,750
$7,750$15,187
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (FHA)
Blended Rate: 4.12%
Monthly Payment Comparison
New Conventional @ 6.5%
$931/moAssumable @ 3.89% + gap loan
$716/moAssumed loan: $659/mo
Gap financing: $57/mo
$215less per month with the assumable
Your Savings on This Property
1905 8th, Pueblo · 3.89% FHA vs 6.5% conventional
$215
per month
$2,579
per year
$77,360
over 30 years
$77,359
interest saved
How gap financing works: The equity gap ($15,187) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,750, 5% of purchase price) and a second mortgage for the rest ($7,437 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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