Loan Comparison: 6.32% vs 6.5%
2214 Orman Avenue, Pueblo, CO 81004 · 3bd/2ba · $209,000
List Price
$209,000
Assumable Rate
6.32%
Remaining Balance
$196,096
Equity Gap
$12,903
Loan Type
VAAdjust Your Scenario
$10,450
$10,450$12,903
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.32% (VA)
Blended Rate: 6.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,255/moAssumable @ 6.32% + gap loan
$1,233/moAssumed loan: $1,216/mo
Gap financing: $17/mo
$21less per month with the assumable
Your Savings on This Property
2214 Orman Avenue, Pueblo · 6.32% VA vs 6.5% conventional
$21
per month
$258
per year
$7,733
over 30 years
$7,732
interest saved
How gap financing works: The equity gap ($12,903) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,450, 5% of purchase price) and a second mortgage for the rest ($2,453 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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