Loan Comparison: 2.9% vs 6.5%
4032 Valley Drive, Pueblo, CO 81008 · 6bd/3ba · $340,000
List Price
$340,000
Assumable Rate
2.9%
Remaining Balance
$152,386
Equity Gap
$187,614
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$187,614
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.9% + gap loan
$1,827/moAssumed loan: $634/mo
Gap financing: $1,193/mo
$214less per month with the assumable
Your Savings on This Property
4032 Valley Drive, Pueblo · 2.9% VA vs 6.5% conventional
$214
per month
$2,572
per year
$77,164
over 30 years
$77,164
interest saved
How gap financing works: The equity gap ($187,614) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($170,614 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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