Loan Comparison: 3.56% vs 6.5%
816 Van Buren, Pueblo, CO 81004 · 3bd/2ba · $214,900
List Price
$214,900
Assumable Rate
3.56%
Remaining Balance
$189,454
Equity Gap
$32,732
Loan Type
FHAAdjust Your Scenario
$10,745
$10,745$32,732
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%
$1,290/moAssumable @ 3.56% + gap loan
$1,026/moAssumed loan: $857/mo
Gap financing: $169/mo
$264less per month with the assumable
Your Savings on This Property
816 Van Buren, Pueblo · 3.56% FHA vs 6.5% conventional
$264
per month
$3,171
per year
$95,129
over 30 years
$102,415
interest saved
How gap financing works: The equity gap ($32,732) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,745, 5% of purchase price) and a second mortgage for the rest ($21,987 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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