Loan Comparison: 2.75% vs 6.5%
3411 Ptarmigan Lane, Pueblo, CO 81005 · 3bd/2ba · $419,999
List Price
$419,999
Assumable Rate
2.75%
Remaining Balance
$9,391
Equity Gap
$419,999
Loan Type
VAAdjust Your Scenario
$21,000
$21,000$419,999
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.75% (VA)
Blended Rate: 7.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 2.75% + gap loan
$2,828/moAssumed loan: $38/mo
Gap financing: $2,790/mo
Your Savings on This Property
3411 Ptarmigan Lane, Pueblo · 2.75% 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 ($419,999) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($398,999 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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