Loan Comparison: 3.66% vs 6.5%
1008 Kirkwood, Pueblo, CO 81007 · 3bd/2ba · $399,000
List Price
$399,000
Assumable Rate
3.66%
Remaining Balance
$90,611
Equity Gap
$308,389
Loan Type
VAAdjust Your Scenario
$19,950
$19,950$308,389
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.66% (VA)
Blended Rate: 7.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 3.66% + gap loan
$2,633/moAssumed loan: $415/mo
Gap financing: $2,218/mo
Your Savings on This Property
1008 Kirkwood, Pueblo · 3.66% 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 ($308,389) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($288,439 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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