Loan Comparison: 2.96% vs 6.5%
1194 Gunpowder, Pueblo, CO 81007 · 5bd/3ba · $549,900
List Price
$549,900
Assumable Rate
2.96%
Remaining Balance
$380,117
Equity Gap
$169,783
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$169,783
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (VA)
Blended Rate: 4.47%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 2.96% + gap loan
$2,688/moAssumed loan: $1,594/mo
Gap financing: $1,094/mo
$613less per month with the assumable
Your Savings on This Property
1194 Gunpowder, Pueblo · 2.96% VA vs 6.5% conventional
$613
per month
$7,362
per year
$220,854
over 30 years
$220,854
interest saved
How gap financing works: The equity gap ($169,783) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($142,288 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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