Loan Comparison: 3.1% vs 6.5%
5101 Goldking, Pueblo, CO 81008 · 4bd/3ba · $369,999
List Price
$369,999
Assumable Rate
3.1%
Remaining Balance
$329,817
Equity Gap
$40,881
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$40,881
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 3.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 3.1% + gap loan
$1,580/moAssumed loan: $1,408/mo
Gap financing: $172/mo
$641less per month with the assumable
Your Savings on This Property
5101 Goldking, Pueblo · 3.1% VA vs 6.5% conventional
$641
per month
$7,695
per year
$230,850
over 30 years
$231,549
interest saved
How gap financing works: The equity gap ($40,881) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($22,381 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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