Loan Comparison: 3.56% vs 6.5%
626 Jackson Street, Pueblo, CO 81004 · 3bd/2ba · $259,900
List Price
$259,900
Assumable Rate
3.56%
Remaining Balance
$95,304
Equity Gap
$164,596
Loan Type
VAAdjust Your Scenario
$12,995
$12,995$164,596
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.56% (VA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,561/moAssumable @ 3.56% + gap loan
$1,491/moAssumed loan: $431/mo
Gap financing: $1,060/mo
$69less per month with the assumable
Your Savings on This Property
626 Jackson Street, Pueblo · 3.56% VA vs 6.5% conventional
$69
per month
$833
per year
$24,997
over 30 years
$24,997
interest saved
How gap financing works: The equity gap ($164,596) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,995, 5% of purchase price) and a second mortgage for the rest ($151,601 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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