Loan Comparison: 2.4% vs 6.5%
749 Corona Avenue, Pueblo, CO 81004 · 3bd/2ba · $294,900
List Price
$294,900
Assumable Rate
2.4%
Remaining Balance
$115,380
Equity Gap
$179,519
Loan Type
VAAdjust Your Scenario
$14,745
$14,745$179,519
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.4% (VA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 2.4% + gap loan
$1,602/moAssumed loan: $450/mo
Gap financing: $1,152/mo
$169less per month with the assumable
Your Savings on This Property
749 Corona Avenue, Pueblo · 2.4% VA vs 6.5% conventional
$169
per month
$2,025
per year
$60,744
over 30 years
$60,743
interest saved
How gap financing works: The equity gap ($179,519) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,745, 5% of purchase price) and a second mortgage for the rest ($164,774 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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