Loan Comparison: 3.76% vs 6.5%
2214 Cowhand, Pueblo, CO 81008 · 3bd/3ba · $335,000
List Price
$335,000
Assumable Rate
3.76%
Remaining Balance
$311,913
Equity Gap
$22,489
Loan Type
VAAdjust Your Scenario
$16,750
$16,750$22,489
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (VA)
Blended Rate: 3.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 3.76% + gap loan
$1,490/moAssumed loan: $1,446/mo
Gap financing: $44/mo
$521less per month with the assumable
Your Savings on This Property
2214 Cowhand, Pueblo · 3.76% VA vs 6.5% conventional
$521
per month
$6,254
per year
$187,611
over 30 years
$187,013
interest saved
How gap financing works: The equity gap ($22,489) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($5,739 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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