Loan Comparison: 3.07% vs 6.5%
2 Cynthia, Pueblo, CO 81008 · 2bd/2ba · $279,000
List Price
$279,000
Assumable Rate
3.07%
Remaining Balance
$235,109
Equity Gap
$43,891
Loan Type
VAAdjust Your Scenario
$13,950
$13,950$43,891
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 3.07% + gap loan
$1,230/moAssumed loan: $1,000/mo
Gap financing: $230/mo
$445less per month with the assumable
Your Savings on This Property
2 Cynthia, Pueblo · 3.07% VA vs 6.5% conventional
$445
per month
$5,339
per year
$160,182
over 30 years
$160,182
interest saved
How gap financing works: The equity gap ($43,891) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($29,941 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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