Loan Comparison: 3.28% vs 6.5%
40 Normandy, Pueblo, CO 81001 · 4bd/2ba · $320,000
List Price
$320,000
Assumable Rate
3.28%
Remaining Balance
$210,162
Equity Gap
$110,319
Loan Type
FHAAdjust Your Scenario
$16,000
$16,000$110,319
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.28% (FHA)
Blended Rate: 4.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.28% + gap loan
$1,643/moAssumed loan: $918/mo
Gap financing: $725/mo
$278less per month with the assumable
Your Savings on This Property
40 Normandy, Pueblo · 3.28% FHA vs 6.5% conventional
$278
per month
$3,338
per year
$100,135
over 30 years
$100,616
interest saved
How gap financing works: The equity gap ($110,319) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($94,319 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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