Loan Comparison: 6.96% vs 6.5%
2132 Routt Avenue, Pueblo, CO 81004 · 5bd/5ba · $205,000
List Price
$205,000
Assumable Rate
6.96%
Remaining Balance
$180,184
Equity Gap
$24,815
Loan Type
VAAdjust Your Scenario
$10,250
$10,250$24,815
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.96% (VA)
Blended Rate: 7.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,231/moAssumable @ 6.96% + gap loan
$1,296/moAssumed loan: $1,194/mo
Gap financing: $102/mo
Your Savings on This Property
2132 Routt Avenue, Pueblo · 6.96% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($24,815) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,250, 5% of purchase price) and a second mortgage for the rest ($14,565 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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