Loan Comparison: 2.87% vs 6.5%
18 Dundee, Pueblo, CO 81001 · 0bd/0ba · $219,900
List Price
$219,900
Assumable Rate
2.87%
Remaining Balance
$180,954
Equity Gap
$38,946
Loan Type
FHAAdjust Your Scenario
$10,995
$10,995$38,946
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 3.62%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,320/moAssumable @ 2.87% + gap loan
$965/moAssumed loan: $750/mo
Gap financing: $215/mo
$355less per month with the assumable
Your Savings on This Property
18 Dundee, Pueblo · 2.87% FHA vs 6.5% conventional
$355
per month
$4,263
per year
$127,880
over 30 years
$127,880
interest saved
How gap financing works: The equity gap ($38,946) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,995, 5% of purchase price) and a second mortgage for the rest ($27,951 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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