Loan Comparison: 2.81% vs 6.5%
117 43rd Ave Ct, Greeley, CO 80634 · 4bd/3ba · $360,000
List Price
$360,000
Assumable Rate
2.81%
Remaining Balance
$245,588
Equity Gap
$114,411
Loan Type
VAAdjust Your Scenario
$18,000
$18,000$114,411
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (VA)
Blended Rate: 4.13%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 2.81% + gap loan
$1,685/moAssumed loan: $1,010/mo
Gap financing: $674/mo
$477less per month with the assumable
Your Savings on This Property
117 43rd Ave Ct, Greeley · 2.81% VA vs 6.5% conventional
$477
per month
$5,726
per year
$171,770
over 30 years
$171,769
interest saved
How gap financing works: The equity gap ($114,411) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($96,411 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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