Loan Comparison: 3.05% vs 6.5%
4355 24th Street Road, Greeley, CO 80634 · 3bd/2ba · $354,900
List Price
$354,900
Assumable Rate
3.05%
Remaining Balance
$318,082
Equity Gap
$36,817
Loan Type
VAAdjust Your Scenario
$17,745
$17,745$36,817
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.05% (VA)
Blended Rate: 3.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,131/moAssumable @ 3.05% + gap loan
$1,483/moAssumed loan: $1,350/mo
Gap financing: $133/mo
$648less per month with the assumable
Your Savings on This Property
4355 24th Street Road, Greeley · 3.05% VA vs 6.5% conventional
$648
per month
$7,777
per year
$233,300
over 30 years
$233,299
interest saved
How gap financing works: The equity gap ($36,817) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,745, 5% of purchase price) and a second mortgage for the rest ($19,072 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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