Loan Comparison: 2.77% vs 6.5%
1267 Ginger, Pueblo, CO 81007 · 5bd/3ba · $440,000
List Price
$440,000
Assumable Rate
2.77%
Remaining Balance
$399,387
Equity Gap
$40,613
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$40,613
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 3.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.77% + gap loan
$1,778/moAssumed loan: $1,635/mo
Gap financing: $143/mo
$864less per month with the assumable
Your Savings on This Property
1267 Ginger, Pueblo · 2.77% VA vs 6.5% conventional
$864
per month
$10,371
per year
$311,123
over 30 years
$311,123
interest saved
How gap financing works: The equity gap ($40,613) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($18,613 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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