Loan Comparison: 2.83% vs 6.5%
4880 Warbler, Pueblo, CO 81008 · 4bd/3ba · $397,900
List Price
$397,900
Assumable Rate
2.83%
Remaining Balance
$160,459
Equity Gap
$237,063
Loan Type
FHAAdjust Your Scenario
$19,895
$19,895$237,063
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (FHA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,389/moAssumable @ 2.83% + gap loan
$2,332/moAssumed loan: $662/mo
Gap financing: $1,670/mo
$58less per month with the assumable
Your Savings on This Property
4880 Warbler, Pueblo · 2.83% FHA vs 6.5% conventional
$58
per month
$690
per year
$20,713
over 30 years
$20,335
interest saved
How gap financing works: The equity gap ($237,063) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,895, 5% of purchase price) and a second mortgage for the rest ($217,168 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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