Loan Comparison: 3.09% vs 6.5%
979 Alexis, Pueblo, CO 81007 · 5bd/3ba · $390,000
List Price
$390,000
Assumable Rate
3.09%
Remaining Balance
$287,738
Equity Gap
$102,262
Loan Type
VAAdjust Your Scenario
$19,500
$19,500$102,262
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (VA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.09% + gap loan
$1,863/moAssumed loan: $1,227/mo
Gap financing: $636/mo
$478less per month with the assumable
Your Savings on This Property
979 Alexis, Pueblo · 3.09% VA vs 6.5% conventional
$478
per month
$5,740
per year
$172,194
over 30 years
$172,194
interest saved
How gap financing works: The equity gap ($102,262) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($82,762 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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