Loan Comparison: 2.87% vs 6.5%
18 Dundee, Pueblo, CO 81001 · 2bd/1ba · $214,500
List Price
$214,500
Assumable Rate
2.87%
Remaining Balance
$180,149
Equity Gap
$34,350
Loan Type
FHAAdjust Your Scenario
$10,725
$10,725$34,350
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,288/moAssumable @ 2.87% + gap loan
$929/moAssumed loan: $747/mo
Gap financing: $182/mo
$359less per month with the assumable
Your Savings on This Property
18 Dundee, Pueblo · 2.87% FHA vs 6.5% conventional
$359
per month
$4,313
per year
$129,383
over 30 years
$129,382
interest saved
How gap financing works: The equity gap ($34,350) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,725, 5% of purchase price) and a second mortgage for the rest ($23,625 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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