Loan Comparison: 3.07% vs 6.5%
8611 18th Street, Greeley, CO 80634 · 5bd/3ba · $475,000
List Price
$475,000
Assumable Rate
3.07%
Remaining Balance
$390,651
Equity Gap
$84,348
Loan Type
VAAdjust Your Scenario
$23,750
$23,750$84,348
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 3.07% + gap loan
$2,085/moAssumed loan: $1,662/mo
Gap financing: $424/mo
$767less per month with the assumable
Your Savings on This Property
8611 18th Street, Greeley · 3.07% VA vs 6.5% conventional
$767
per month
$9,201
per year
$276,016
over 30 years
$276,015
interest saved
How gap financing works: The equity gap ($84,348) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($60,598 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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