Loan Comparison: 2.88% vs 6.5%
1107 Jackson, Pueblo, CO 81004 · 2bd/1ba · $239,900
List Price
$239,900
Assumable Rate
2.88%
Remaining Balance
$201,702
Equity Gap
$38,198
Loan Type
FHAAdjust Your Scenario
$11,995
$11,995$38,198
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (FHA)
Blended Rate: 3.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,441/moAssumable @ 2.88% + gap loan
$1,039/moAssumed loan: $837/mo
Gap financing: $201/mo
$402less per month with the assumable
Your Savings on This Property
1107 Jackson, Pueblo · 2.88% FHA vs 6.5% conventional
$402
per month
$4,820
per year
$144,594
over 30 years
$144,594
interest saved
How gap financing works: The equity gap ($38,198) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,995, 5% of purchase price) and a second mortgage for the rest ($26,203 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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