Loan Comparison: 6.67% vs 6.5%

32781 Eagleview Drive, Greeley, CO 80631 ยท 5bd/4ba ยท $1,795,000

List Price
$1,795,000
Assumable Rate
6.67%
Remaining Balance
$1,488,860
Equity Gap
$306,139
Loan Type
VA

Adjust Your Scenario

$89,750
$89,750$306,139
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.67% (VA)
Blended Rate: 6.78%

Monthly Payment Comparison

New Conventional @ 6.5%
$10,778/mo
Assumable @ 6.67% + gap loan
$11,091/mo
Assumed loan: $9,578/mo
Gap financing: $1,513/mo

Your Savings on This Property

32781 Eagleview Drive, Greeley ยท 6.67% VA vs 6.5% conventional

$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($306,139) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($89,750, 5% of purchase price) and a second mortgage for the rest ($216,389 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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