Loan Comparison: 2.87% vs 6.5%
18 Dundee Lane, Pueblo, CO 81001 · 5bd/2ba · $209,900
List Price
$209,900
Assumable Rate
2.87%
Remaining Balance
$178,935
Equity Gap
$30,964
Loan Type
FHAAdjust Your Scenario
$10,495
$10,495$30,964
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,260/moAssumable @ 2.87% + gap loan
$885/moAssumed loan: $742/mo
Gap financing: $143/mo
$375less per month with the assumable
Your Savings on This Property
18 Dundee Lane, Pueblo · 2.87% FHA vs 6.5% conventional
$375
per month
$4,504
per year
$135,124
over 30 years
$135,123
interest saved
How gap financing works: The equity gap ($30,964) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,495, 5% of purchase price) and a second mortgage for the rest ($20,469 at 7.5%). 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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