Loan Comparison: 3.08% vs 6.5%
744 27th Avenue, Greeley, CO 80634 · 4bd/2ba · $218,000
List Price
$218,000
Assumable Rate
3.08%
Remaining Balance
$122,988
Equity Gap
$95,012
Loan Type
VAAdjust Your Scenario
$10,900
$10,900$95,012
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,309/moAssumable @ 3.08% + gap loan
$1,112/moAssumed loan: $524/mo
Gap financing: $588/mo
$197less per month with the assumable
Your Savings on This Property
744 27th Avenue, Greeley · 3.08% VA vs 6.5% conventional
$197
per month
$2,365
per year
$70,936
over 30 years
$70,936
interest saved
How gap financing works: The equity gap ($95,012) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($10,900, 5% of purchase price) and a second mortgage for the rest ($84,112 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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