Loan Comparison: 2.87% vs 6.5%
3 St Andrews, Pueblo, CO 81001 · 6bd/3ba · $550,000
List Price
$550,000
Assumable Rate
2.87%
Remaining Balance
$262,090
Equity Gap
$284,966
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$284,966
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.87% + gap loan
$3,066/moAssumed loan: $1,087/mo
Gap financing: $1,980/mo
$236less per month with the assumable
Your Savings on This Property
3 St Andrews, Pueblo · 2.87% VA vs 6.5% conventional
$236
per month
$2,834
per year
$85,022
over 30 years
$82,078
interest saved
How gap financing works: The equity gap ($284,966) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($257,466 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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