Loan Comparison: 2.87% vs 6.5%
1410 6th Street, Pueblo, CO 81001 · 4bd/3ba · $175,000
List Price
$175,000
Assumable Rate
2.87%
Remaining Balance
$9,430
Equity Gap
$165,569
Loan Type
VAAdjust Your Scenario
$8,750
$8,750$165,569
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 7.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,051/moAssumable @ 2.87% + gap loan
$1,136/moAssumed loan: $39/mo
Gap financing: $1,097/mo
Your Savings on This Property
1410 6th Street, Pueblo · 2.87% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($165,569) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($8,750, 5% of purchase price) and a second mortgage for the rest ($156,819 at 7.5%). 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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