Loan Comparison: 3.35% vs 6.5%
58 Purdue, Pueblo, CO 81005 · 3bd/1ba · $289,000
List Price
$289,000
Assumable Rate
3.35%
Remaining Balance
$85,351
Equity Gap
$203,968
Loan Type
VAAdjust Your Scenario
$14,450
$14,450$203,968
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 6.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,735/moAssumable @ 3.35% + gap loan
$1,833/moAssumed loan: $376/mo
Gap financing: $1,457/mo
Your Savings on This Property
58 Purdue, Pueblo · 3.35% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($203,968) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,450, 5% of purchase price) and a second mortgage for the rest ($189,518 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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