Loan Comparison: 4% vs 6.5%
8 Sovereign, Pueblo, CO 81005 · 3bd/2ba · $300,000
List Price
$300,000
Assumable Rate
4%
Remaining Balance
$193,234
Equity Gap
$106,483
Loan Type
FHAAdjust Your Scenario
$15,000
$15,000$106,483
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 5.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 4% + gap loan
$1,626/moAssumed loan: $923/mo
Gap financing: $703/mo
$175less per month with the assumable
Your Savings on This Property
8 Sovereign, Pueblo · 4% FHA vs 6.5% conventional
$175
per month
$2,105
per year
$63,158
over 30 years
$62,875
interest saved
How gap financing works: The equity gap ($106,483) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,000, 5% of purchase price) and a second mortgage for the rest ($91,483 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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