Loan Comparison: 6.3% vs 6.5%
617 Norwood Avenue, Pueblo, CO 81001 · 3bd/2ba · $319,999
List Price
$319,999
Assumable Rate
6.3%
Remaining Balance
$303,194
Equity Gap
$16,805
Loan Type
VAAdjust Your Scenario
$16,000
$16,000$16,805
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.3% (VA)
Blended Rate: 6.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,921/moAssumable @ 6.3% + gap loan
$1,882/moAssumed loan: $1,877/mo
Gap financing: $6/mo
$39less per month with the assumable
Your Savings on This Property
617 Norwood Avenue, Pueblo · 6.3% VA vs 6.5% conventional
$39
per month
$470
per year
$14,099
over 30 years
$14,099
interest saved
How gap financing works: The equity gap ($16,805) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,000, 5% of purchase price) and a second mortgage for the rest ($805 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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