Loan Comparison: 3.07% vs 6.5%
2 Cynthia, Pueblo, CO 81008 · 2bd/2ba · $279,000
List Price
$279,000
Assumable Rate
3.07%
Remaining Balance
$234,608
Equity Gap
$44,391
Loan Type
VAAdjust Your Scenario
$13,950
$13,950$44,391
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,675/moAssumable @ 3.07% + gap loan
$1,232/moAssumed loan: $998/mo
Gap financing: $234/mo
$443less per month with the assumable
Your Savings on This Property
2 Cynthia, Pueblo · 3.07% VA vs 6.5% conventional
$443
per month
$5,319
per year
$159,565
over 30 years
$159,564
interest saved
How gap financing works: The equity gap ($44,391) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($13,950, 5% of purchase price) and a second mortgage for the rest ($30,441 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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