Loan Comparison: 3.64% vs 6.5%
316 Orman, Pueblo, CO 81004 · 5bd/3ba · $389,000
List Price
$389,000
Assumable Rate
3.64%
Remaining Balance
$190,575
Equity Gap
$205,337
Loan Type
FHAAdjust Your Scenario
$19,450
$19,450$205,337
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.64% (FHA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 3.64% + gap loan
$2,300/moAssumed loan: $871/mo
Gap financing: $1,429/mo
$36less per month with the assumable
Your Savings on This Property
316 Orman, Pueblo · 3.64% FHA vs 6.5% conventional
$36
per month
$429
per year
$12,876
over 30 years
$19,788
interest saved
How gap financing works: The equity gap ($205,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($185,887 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.