Loan Comparison: 3.89% vs 6.5%
2319 18th Street, Pueblo, CO 81003 · 4bd/3ba · $319,900
List Price
$319,900
Assumable Rate
3.89%
Remaining Balance
$285,156
Equity Gap
$34,743
Loan Type
VAAdjust Your Scenario
$15,995
$15,995$34,743
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 3.89% + gap loan
$1,474/moAssumed loan: $1,343/mo
Gap financing: $131/mo
$446less per month with the assumable
Your Savings on This Property
2319 18th Street, Pueblo · 3.89% VA vs 6.5% conventional
$446
per month
$5,357
per year
$160,719
over 30 years
$160,718
interest saved
How gap financing works: The equity gap ($34,743) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,995, 5% of purchase price) and a second mortgage for the rest ($18,748 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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