Loan Comparison: 2.87% vs 6.5%
2208 Wyoming, Pueblo, CO 81004 · 4bd/2ba · $249,999
List Price
$249,999
Assumable Rate
2.87%
Remaining Balance
$161,360
Equity Gap
$88,638
Loan Type
FHAAdjust Your Scenario
$12,500
$12,500$88,638
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 4.67%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 2.87% + gap loan
$1,254/moAssumed loan: $669/mo
Gap financing: $585/mo
$247less per month with the assumable
Your Savings on This Property
2208 Wyoming, Pueblo · 2.87% FHA vs 6.5% conventional
$247
per month
$2,960
per year
$88,805
over 30 years
$88,804
interest saved
How gap financing works: The equity gap ($88,638) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($76,138 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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