Loan Comparison: 2.88% vs 6.5%
2306 72nd Ave Ct, Greeley, CO 80634 · 4bd/3ba · $460,000
List Price
$460,000
Assumable Rate
2.88%
Remaining Balance
$342,870
Equity Gap
$117,130
Loan Type
VAAdjust Your Scenario
$23,000
$23,000$117,130
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,762/moAssumable @ 2.88% + gap loan
$2,082/moAssumed loan: $1,423/mo
Gap financing: $658/mo
$681less per month with the assumable
Your Savings on This Property
2306 72nd Ave Ct, Greeley · 2.88% VA vs 6.5% conventional
$681
per month
$8,166
per year
$244,983
over 30 years
$244,983
interest saved
How gap financing works: The equity gap ($117,130) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,000, 5% of purchase price) and a second mortgage for the rest ($94,130 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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