Loan Comparison: 2.73% vs 6.5%
979 Alexis Lane, Pueblo, CO 81007 · 3bd/2ba · $370,000
List Price
$370,000
Assumable Rate
2.73%
Remaining Balance
$285,062
Equity Gap
$84,937
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$84,937
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.73% (VA)
Blended Rate: 3.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.73% + gap loan
$1,625/moAssumed loan: $1,161/mo
Gap financing: $465/mo
$596less per month with the assumable
Your Savings on This Property
979 Alexis Lane, Pueblo · 2.73% VA vs 6.5% conventional
$596
per month
$7,158
per year
$214,725
over 30 years
$214,724
interest saved
How gap financing works: The equity gap ($84,937) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($66,437 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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