Loan Comparison: 3.33% vs 6.5%
3916 21st Street, Greeley, CO 80634 · 4bd/4ba · $535,000
List Price
$535,000
Assumable Rate
3.33%
Remaining Balance
$311,693
Equity Gap
$223,307
Loan Type
VAAdjust Your Scenario
$26,750
$26,750$223,307
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.33% (VA)
Blended Rate: 4.94%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,212/moAssumable @ 3.33% + gap loan
$2,745/moAssumed loan: $1,370/mo
Gap financing: $1,374/mo
$468less per month with the assumable
Your Savings on This Property
3916 21st Street, Greeley · 3.33% VA vs 6.5% conventional
$468
per month
$5,615
per year
$168,444
over 30 years
$168,444
interest saved
How gap financing works: The equity gap ($223,307) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,750, 5% of purchase price) and a second mortgage for the rest ($196,557 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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