Loan Comparison: 2.86% vs 6.5%
965 Cimarron, Pueblo, CO 81007 · 5bd/2ba · $415,000
List Price
$415,000
Assumable Rate
2.86%
Remaining Balance
$334,876
Equity Gap
$78,633
Loan Type
VAAdjust Your Scenario
$20,750
$20,750$78,633
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.86% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,492/moAssumable @ 2.86% + gap loan
$1,832/moAssumed loan: $1,387/mo
Gap financing: $445/mo
$660less per month with the assumable
Your Savings on This Property
965 Cimarron, Pueblo · 2.86% VA vs 6.5% conventional
$660
per month
$7,922
per year
$237,660
over 30 years
$236,169
interest saved
How gap financing works: The equity gap ($78,633) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,750, 5% of purchase price) and a second mortgage for the rest ($57,883 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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