Loan Comparison: 3.22% vs 6.5%
69 Hanson, Pueblo, CO 81001 · 3bd/2ba · $265,500
List Price
$265,500
Assumable Rate
3.22%
Remaining Balance
$166,287
Equity Gap
$99,213
Loan Type
FHAAdjust Your Scenario
$13,275
$13,275$99,213
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.22% (FHA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,594/moAssumable @ 3.22% + gap loan
$1,382/moAssumed loan: $721/mo
Gap financing: $661/mo
$212less per month with the assumable
Your Savings on This Property
69 Hanson, Pueblo · 3.22% FHA vs 6.5% conventional
$212
per month
$2,550
per year
$76,496
over 30 years
$76,496
interest saved
How gap financing works: The equity gap ($99,213) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,275, 5% of purchase price) and a second mortgage for the rest ($85,938 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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