Loan Comparison: 2.9% vs 6.5%
4032 Valley, Pueblo, CO 81008 · 3bd/3ba · $340,000
List Price
$340,000
Assumable Rate
2.9%
Remaining Balance
$153,744
Equity Gap
$186,255
Loan Type
VAAdjust Your Scenario
$17,000
$17,000$186,255
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 5.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,042/moAssumable @ 2.9% + gap loan
$1,941/moAssumed loan: $640/mo
Gap financing: $1,301/mo
$100less per month with the assumable
Your Savings on This Property
4032 Valley, Pueblo · 2.9% VA vs 6.5% conventional
$100
per month
$1,203
per year
$36,082
over 30 years
$36,081
interest saved
How gap financing works: The equity gap ($186,255) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,000, 5% of purchase price) and a second mortgage for the rest ($169,255 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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