Loan Comparison: 6.64% vs 6.5%
2633 Grand Avenue, Pueblo, CO 81003 · 3bd/2ba · $270,000
List Price
$270,000
Assumable Rate
6.64%
Remaining Balance
$242,491
Equity Gap
$27,508
Loan Type
VAAdjust Your Scenario
$13,500
$13,500$27,508
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.64% (VA)
Blended Rate: 6.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,621/moAssumable @ 6.64% + gap loan
$1,653/moAssumed loan: $1,555/mo
Gap financing: $98/mo
Your Savings on This Property
2633 Grand Avenue, Pueblo · 6.64% 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 ($27,508) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,500, 5% of purchase price) and a second mortgage for the rest ($14,008 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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