Loan Comparison: 3.07% vs 6.5%
1023 Bragdon, Pueblo, CO 81004 · 4bd/2ba · $350,000
List Price
$350,000
Assumable Rate
3.07%
Remaining Balance
$257,518
Equity Gap
$93,035
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$93,035
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.07% + gap loan
$1,676/moAssumed loan: $1,095/mo
Gap financing: $581/mo
$425less per month with the assumable
Your Savings on This Property
1023 Bragdon, Pueblo · 3.07% VA vs 6.5% conventional
$425
per month
$5,104
per year
$153,135
over 30 years
$153,688
interest saved
How gap financing works: The equity gap ($93,035) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($75,535 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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