Loan Comparison: 2.87% vs 6.5%
3 St Andrews Court, Pueblo, CO 81001 · 2bd/1ba · $550,000
List Price
$550,000
Assumable Rate
2.87%
Remaining Balance
$261,497
Equity Gap
$288,502
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$288,502
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.87% + gap loan
$2,909/moAssumed loan: $1,084/mo
Gap financing: $1,825/mo
$393less per month with the assumable
Your Savings on This Property
3 St Andrews Court, Pueblo · 2.87% VA vs 6.5% conventional
$393
per month
$4,720
per year
$141,609
over 30 years
$141,608
interest saved
How gap financing works: The equity gap ($288,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($261,002 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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