Loan Comparison: 3.01% vs 6.5%
1005 Kirkwood, Pueblo, CO 81007 · 4bd/2ba · $470,000
List Price
$470,000
Assumable Rate
3.01%
Remaining Balance
$246,790
Equity Gap
$222,060
Loan Type
VAAdjust Your Scenario
$23,500
$23,500$222,060
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.01% (VA)
Blended Rate: 5.46%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 3.01% + gap loan
$2,569/moAssumed loan: $1,042/mo
Gap financing: $1,527/mo
$254less per month with the assumable
Your Savings on This Property
1005 Kirkwood, Pueblo · 3.01% VA vs 6.5% conventional
$254
per month
$3,043
per year
$91,304
over 30 years
$90,154
interest saved
How gap financing works: The equity gap ($222,060) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($198,560 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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