Loan Comparison: 2.87% vs 6.5%
3 St Andrews, Pueblo, CO 81001 · 6bd/3ba · $604,900
List Price
$604,900
Assumable Rate
2.87%
Remaining Balance
$264,447
Equity Gap
$340,452
Loan Type
VAAdjust Your Scenario
$30,245
$30,245$340,452
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,632/moAssumable @ 2.87% + gap loan
$3,482/moAssumed loan: $1,096/mo
Gap financing: $2,385/mo
$151less per month with the assumable
Your Savings on This Property
3 St Andrews, Pueblo · 2.87% VA vs 6.5% conventional
$151
per month
$1,806
per year
$54,188
over 30 years
$54,187
interest saved
How gap financing works: The equity gap ($340,452) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,245, 5% of purchase price) and a second mortgage for the rest ($310,207 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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