Loan Comparison: 3.56% vs 6.5%
816 Van Buren, Pueblo, CO 81004 · 3bd/2ba · $213,900
List Price
$213,900
Assumable Rate
3.56%
Remaining Balance
$181,808
Equity Gap
$31,732
Loan Type
FHAAdjust Your Scenario
$10,695
$10,695$31,732
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (FHA)
Blended Rate: 4.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,284/moAssumable @ 3.56% + gap loan
$984/moAssumed loan: $823/mo
Gap financing: $162/mo
$300less per month with the assumable
Your Savings on This Property
816 Van Buren, Pueblo · 3.56% FHA vs 6.5% conventional
$300
per month
$3,602
per year
$108,049
over 30 years
$107,689
interest saved
How gap financing works: The equity gap ($31,732) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,695, 5% of purchase price) and a second mortgage for the rest ($21,037 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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