Loan Comparison: 2.83% vs 6.5%
1127 25th Avenue, Greeley, CO 80634 · 4bd/2ba · $295,000
List Price
$295,000
Assumable Rate
2.83%
Remaining Balance
$195,096
Equity Gap
$99,904
Loan Type
VAAdjust Your Scenario
$14,750
$14,750$99,904
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 2.83% + gap loan
$1,400/moAssumed loan: $805/mo
Gap financing: $595/mo
$371less per month with the assumable
Your Savings on This Property
1127 25th Avenue, Greeley · 2.83% VA vs 6.5% conventional
$371
per month
$4,454
per year
$133,635
over 30 years
$133,635
interest saved
How gap financing works: The equity gap ($99,904) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($85,154 at 7.5%). 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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