Loan Comparison: 3.28% vs 6.5%
2221 A St Rd, Greeley, CO 80631 · 4bd/3ba · $380,000
List Price
$380,000
Assumable Rate
3.28%
Remaining Balance
$240,698
Equity Gap
$139,301
Loan Type
VAAdjust Your Scenario
$19,000
$19,000$139,301
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.28% (VA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,282/moAssumable @ 3.28% + gap loan
$1,893/moAssumed loan: $1,052/mo
Gap financing: $841/mo
$389less per month with the assumable
Your Savings on This Property
2221 A St Rd, Greeley · 3.28% VA vs 6.5% conventional
$389
per month
$4,669
per year
$140,077
over 30 years
$140,076
interest saved
How gap financing works: The equity gap ($139,301) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,000, 5% of purchase price) and a second mortgage for the rest ($120,301 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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