Loan Comparison: 2.96% vs 6.5%
2111 Vinewood, Pueblo, CO 81005 · 4bd/2ba · $279,900
List Price
$279,900
Assumable Rate
2.96%
Remaining Balance
$206,028
Equity Gap
$73,392
Loan Type
FHAAdjust Your Scenario
$13,995
$13,995$73,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.20%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,681/moAssumable @ 2.96% + gap loan
$1,321/moAssumed loan: $864/mo
Gap financing: $457/mo
$360less per month with the assumable
Your Savings on This Property
2111 Vinewood, Pueblo · 2.96% FHA vs 6.5% conventional
$360
per month
$4,318
per year
$129,530
over 30 years
$129,050
interest saved
How gap financing works: The equity gap ($73,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,995, 5% of purchase price) and a second mortgage for the rest ($59,397 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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