Loan Comparison: 3.35% vs 6.5%
58 Purdue Street, Pueblo, CO 81005 · 3bd/1ba · $250,000
List Price
$250,000
Assumable Rate
3.35%
Remaining Balance
$84,712
Equity Gap
$165,288
Loan Type
VAAdjust Your Scenario
$12,500
$12,500$165,288
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 6.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,501/moAssumable @ 3.35% + gap loan
$1,442/moAssumed loan: $373/mo
Gap financing: $1,068/mo
$60less per month with the assumable
Your Savings on This Property
58 Purdue Street, Pueblo · 3.35% VA vs 6.5% conventional
$60
per month
$714
per year
$21,423
over 30 years
$21,423
interest saved
How gap financing works: The equity gap ($165,288) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,500, 5% of purchase price) and a second mortgage for the rest ($152,788 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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