Loan Comparison: 2.9% vs 6.5%
2 Bitterweed Court, Pueblo, CO 81001 · 5bd/2ba · $330,100
List Price
$330,100
Assumable Rate
2.9%
Remaining Balance
$284,622
Equity Gap
$45,477
Loan Type
VAAdjust Your Scenario
$16,505
$16,505$45,477
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 3.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 2.9% + gap loan
$1,387/moAssumed loan: $1,185/mo
Gap financing: $203/mo
$595less per month with the assumable
Your Savings on This Property
2 Bitterweed Court, Pueblo · 2.9% VA vs 6.5% conventional
$595
per month
$7,139
per year
$214,155
over 30 years
$214,154
interest saved
How gap financing works: The equity gap ($45,477) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,505, 5% of purchase price) and a second mortgage for the rest ($28,972 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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