Loan Comparison: 5.3% vs 6.5%
902 15th, Pueblo, CO 81003 · 3bd/2ba · $299,900
List Price
$299,900
Assumable Rate
5.3%
Remaining Balance
$279,516
Equity Gap
$19,563
Loan Type
VAAdjust Your Scenario
$14,995
$14,995$19,563
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,801/moAssumable @ 5.3% + gap loan
$1,587/moAssumed loan: $1,552/mo
Gap financing: $35/mo
$214less per month with the assumable
Your Savings on This Property
902 15th, Pueblo · 5.3% VA vs 6.5% conventional
$214
per month
$2,562
per year
$76,861
over 30 years
$76,040
interest saved
How gap financing works: The equity gap ($19,563) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,995, 5% of purchase price) and a second mortgage for the rest ($4,568 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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