Loan Comparison: 2.87% vs 6.5%
3 St Andrews, Pueblo, CO 81001 · 6bd/3ba · $564,900
List Price
$564,900
Assumable Rate
2.87%
Remaining Balance
$263,272
Equity Gap
$299,866
Loan Type
VAAdjust Your Scenario
$28,245
$28,245$299,866
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,392/moAssumable @ 2.87% + gap loan
$3,180/moAssumed loan: $1,092/mo
Gap financing: $2,089/mo
$212less per month with the assumable
Your Savings on This Property
3 St Andrews, Pueblo · 2.87% VA vs 6.5% conventional
$212
per month
$2,543
per year
$76,285
over 30 years
$74,523
interest saved
How gap financing works: The equity gap ($299,866) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,245, 5% of purchase price) and a second mortgage for the rest ($271,621 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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