Loan Comparison: 2.87% vs 6.5%
1021 West, Pueblo, CO 81003 · 3bd/1ba · $194,900
List Price
$194,900
Assumable Rate
2.87%
Remaining Balance
$156,974
Equity Gap
$37,926
Loan Type
VAAdjust Your Scenario
$9,745
$9,745$37,926
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,170/moAssumable @ 2.87% + gap loan
$868/moAssumed loan: $651/mo
Gap financing: $217/mo
$303less per month with the assumable
Your Savings on This Property
1021 West, Pueblo · 2.87% VA vs 6.5% conventional
$303
per month
$3,633
per year
$108,995
over 30 years
$108,995
interest saved
How gap financing works: The equity gap ($37,926) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,745, 5% of purchase price) and a second mortgage for the rest ($28,181 at 8.5%). 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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