Loan Comparison: 2.87% vs 6.5%
1021 West, Pueblo, CO 81003 · 3bd/1ba · $184,999
List Price
$184,999
Assumable Rate
2.87%
Remaining Balance
$155,921
Equity Gap
$29,078
Loan Type
VAAdjust Your Scenario
$9,250
$9,250$29,078
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (VA)
Blended Rate: 3.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,111/moAssumable @ 2.87% + gap loan
$799/moAssumed loan: $646/mo
Gap financing: $152/mo
$312less per month with the assumable
Your Savings on This Property
1021 West, Pueblo · 2.87% VA vs 6.5% conventional
$312
per month
$3,743
per year
$112,286
over 30 years
$112,286
interest saved
How gap financing works: The equity gap ($29,078) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($9,250, 5% of purchase price) and a second mortgage for the rest ($19,828 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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