Loan Comparison: 2.9% vs 6.5%
965 Cimarron Drive, Pueblo, CO 81007 · 2bd/1ba · $389,900
List Price
$389,900
Assumable Rate
2.9%
Remaining Balance
$332,114
Equity Gap
$57,785
Loan Type
VAAdjust Your Scenario
$19,495
$19,495$57,785
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,341/moAssumable @ 2.9% + gap loan
$1,650/moAssumed loan: $1,382/mo
Gap financing: $268/mo
$691less per month with the assumable
Your Savings on This Property
965 Cimarron Drive, Pueblo · 2.9% VA vs 6.5% conventional
$691
per month
$8,293
per year
$248,805
over 30 years
$248,804
interest saved
How gap financing works: The equity gap ($57,785) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,495, 5% of purchase price) and a second mortgage for the rest ($38,290 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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