Loan Comparison: 5.3% vs 6.5%
3506 Ptarmigan, Pueblo, CO 81005 · 3bd/2ba · $367,999
List Price
$367,999
Assumable Rate
5.3%
Remaining Balance
$326,762
Equity Gap
$40,762
Loan Type
VAAdjust Your Scenario
$18,400
$18,400$40,762
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.3% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,210/moAssumable @ 5.3% + gap loan
$1,986/moAssumed loan: $1,815/mo
Gap financing: $172/mo
$223less per month with the assumable
Your Savings on This Property
3506 Ptarmigan, Pueblo · 5.3% VA vs 6.5% conventional
$223
per month
$2,679
per year
$80,365
over 30 years
$79,889
interest saved
How gap financing works: The equity gap ($40,762) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,400, 5% of purchase price) and a second mortgage for the rest ($22,362 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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