Loan Comparison: 3.76% vs 6.5%
418 Scranton, Pueblo, CO 81004 · 2bd/1ba · $159,900
List Price
$159,900
Assumable Rate
3.76%
Remaining Balance
$80,650
Equity Gap
$96,238
Loan Type
FHAAdjust Your Scenario
$7,995
$7,995$96,238
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 6.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$960/moAssumable @ 3.76% + gap loan
$1,052/moAssumed loan: $374/mo
Gap financing: $679/mo
Your Savings on This Property
418 Scranton, Pueblo · 3.76% 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 ($96,238) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,995, 5% of purchase price) and a second mortgage for the rest ($88,243 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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