Loan Comparison: 2.98% vs 6.5%
2311 Meadowlark Lane, Pueblo, CO 81001 · 1bd/1ba · $379,000
List Price
$379,000
Assumable Rate
2.98%
Remaining Balance
$274,584
Equity Gap
$104,416
Loan Type
VAAdjust Your Scenario
$18,950
$18,950$104,416
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,276/moAssumable @ 2.98% + gap loan
$1,752/moAssumed loan: $1,155/mo
Gap financing: $598/mo
$523less per month with the assumable
Your Savings on This Property
2311 Meadowlark Lane, Pueblo · 2.98% VA vs 6.5% conventional
$523
per month
$6,282
per year
$188,450
over 30 years
$188,450
interest saved
How gap financing works: The equity gap ($104,416) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,950, 5% of purchase price) and a second mortgage for the rest ($85,466 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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