Loan Comparison: 3.85% vs 6.5%
38 Macalester, Pueblo, CO 81001 · 4bd/2ba · $315,000
List Price
$315,000
Assumable Rate
3.85%
Remaining Balance
$283,902
Equity Gap
$31,098
Loan Type
VAAdjust Your Scenario
$15,750
$15,750$31,098
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 3.85% + gap loan
$1,449/moAssumed loan: $1,331/mo
Gap financing: $118/mo
$442less per month with the assumable
Your Savings on This Property
38 Macalester, Pueblo · 3.85% VA vs 6.5% conventional
$442
per month
$5,310
per year
$159,298
over 30 years
$159,298
interest saved
How gap financing works: The equity gap ($31,098) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($15,348 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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