Loan Comparison: 3.76% vs 6.5%
2214 Cowhand, Pueblo, CO 81008 · 3bd/3ba · $355,000
List Price
$355,000
Assumable Rate
3.76%
Remaining Balance
$314,294
Equity Gap
$40,706
Loan Type
VAAdjust Your Scenario
$17,750
$17,750$40,706
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 4.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,132/moAssumable @ 3.76% + gap loan
$1,634/moAssumed loan: $1,457/mo
Gap financing: $177/mo
$498less per month with the assumable
Your Savings on This Property
2214 Cowhand, Pueblo · 3.76% VA vs 6.5% conventional
$498
per month
$5,974
per year
$179,211
over 30 years
$179,211
interest saved
How gap financing works: The equity gap ($40,706) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,750, 5% of purchase price) and a second mortgage for the rest ($22,956 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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