Loan Comparison: 3.07% vs 6.5%
2 Cynthia, Pueblo, CO 81008 · 2bd/2ba · $287,000
List Price
$287,000
Assumable Rate
3.07%
Remaining Balance
$259,132
Equity Gap
$51,392
Loan Type
VAAdjust Your Scenario
$14,350
$14,350$51,392
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,723/moAssumable @ 3.07% + gap loan
$1,387/moAssumed loan: $1,102/mo
Gap financing: $285/mo
$336less per month with the assumable
Your Savings on This Property
2 Cynthia, Pueblo · 3.07% VA vs 6.5% conventional
$336
per month
$4,034
per year
$121,030
over 30 years
$144,554
interest saved
How gap financing works: The equity gap ($51,392) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,350, 5% of purchase price) and a second mortgage for the rest ($37,042 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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