Loan Comparison: 3.75% vs 6.5%
624 Hewitt, Pueblo, CO 81005 · 3bd/2ba · $325,000
List Price
$325,000
Assumable Rate
3.75%
Remaining Balance
$192,430
Equity Gap
$132,992
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$132,992
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (FHA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 3.75% + gap loan
$1,789/moAssumed loan: $891/mo
Gap financing: $898/mo
$163less per month with the assumable
Your Savings on This Property
624 Hewitt, Pueblo · 3.75% FHA vs 6.5% conventional
$163
per month
$1,952
per year
$58,569
over 30 years
$58,991
interest saved
How gap financing works: The equity gap ($132,992) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($116,742 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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