Loan Comparison: 4.72% vs 6.5%
2319 18th Street, Pueblo, CO 81003 · 3bd/1ba · $319,900
List Price
$319,900
Assumable Rate
4.72%
Remaining Balance
$288,340
Equity Gap
$31,559
Loan Type
VAAdjust Your Scenario
$15,995
$15,995$31,559
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.72% (VA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 4.72% + gap loan
$1,608/moAssumed loan: $1,499/mo
Gap financing: $109/mo
$313less per month with the assumable
Your Savings on This Property
2319 18th Street, Pueblo · 4.72% VA vs 6.5% conventional
$313
per month
$3,758
per year
$112,735
over 30 years
$112,734
interest saved
How gap financing works: The equity gap ($31,559) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,995, 5% of purchase price) and a second mortgage for the rest ($15,564 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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