Loan Comparison: 3.23% vs 6.5%
668 Milt, Pueblo, CO 81007 · 3bd/2ba · $550,000
List Price
$550,000
Assumable Rate
3.23%
Remaining Balance
$298,949
Equity Gap
$370,046
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$370,046
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (VA)
Blended Rate: 6.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.23% + gap loan
$3,932/moAssumed loan: $1,298/mo
Gap financing: $2,634/mo
Your Savings on This Property
668 Milt, Pueblo · 3.23% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($370,046) 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 ($342,546 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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