Loan Comparison: 3.02% vs 6.5%
720 3rd, Pueblo, CO 81001 · 1bd/1ba · $150,000
List Price
$150,000
Assumable Rate
3.02%
Remaining Balance
$33,365
Equity Gap
$85,686
Loan Type
FHAAdjust Your Scenario
$7,500
$7,500$85,686
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (FHA)
Blended Rate: 6.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$901/moAssumable @ 3.02% + gap loan
$742/moAssumed loan: $141/mo
Gap financing: $601/mo
$158less per month with the assumable
Your Savings on This Property
720 3rd, Pueblo · 3.02% FHA vs 6.5% conventional
$158
per month
$1,902
per year
$57,055
over 30 years
$26,106
interest saved
How gap financing works: The equity gap ($85,686) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($7,500, 5% of purchase price) and a second mortgage for the rest ($78,186 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.