Loan Comparison: 7.03% vs 6.5%
1696 Silverwood Drive, Pueblo, CO 81007 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
7.03%
Remaining Balance
$404,330
Equity Gap
$25,669
Loan Type
VAAdjust Your Scenario
$21,500
$21,500$25,669
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.03% (VA)
Blended Rate: 7.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 7.03% + gap loan
$2,727/moAssumed loan: $2,698/mo
Gap financing: $29/mo
Your Savings on This Property
1696 Silverwood Drive, Pueblo · 7.03% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($25,669) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($4,169 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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