Loan Comparison: 4.51% vs 6.5%
2229 Norwich, Pueblo, CO 81003 · 3bd/2ba · $245,000
List Price
$245,000
Assumable Rate
4.51%
Remaining Balance
$54,114
Equity Gap
$190,886
Loan Type
FHAAdjust Your Scenario
$12,250
$12,250$190,886
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.51% (FHA)
Blended Rate: 7.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,471/moAssumable @ 4.51% + gap loan
$1,648/moAssumed loan: $275/mo
Gap financing: $1,374/mo
Your Savings on This Property
2229 Norwich, Pueblo · 4.51% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($190,886) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,250, 5% of purchase price) and a second mortgage for the rest ($178,636 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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