Loan Comparison: 6.16% vs 6.5%
490 Archdale Drive, Pueblo West, CO 81007 · 3bd/1ba · $450,000
List Price
$450,000
Assumable Rate
6.16%
Remaining Balance
$421,534
Equity Gap
$28,466
Loan Type
VAAdjust Your Scenario
$22,500
$22,500$28,466
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.16% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 6.16% + gap loan
$2,613/moAssumed loan: $2,571/mo
Gap financing: $42/mo
$90less per month with the assumable
Your Savings on This Property
490 Archdale Drive, Pueblo West · 6.16% VA vs 6.5% conventional
$90
per month
$1,075
per year
$32,235
over 30 years
$32,235
interest saved
How gap financing works: The equity gap ($28,466) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($5,966 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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