Loan Comparison: 5.55% vs 6.5%
2342 33rd Avenue, Greeley, CO 80634 · 5bd/2ba · $410,000
List Price
$410,000
Assumable Rate
5.55%
Remaining Balance
$377,280
Equity Gap
$32,720
Loan Type
VAAdjust Your Scenario
$20,500
$20,500$32,720
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.55% (VA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 5.55% + gap loan
$2,239/moAssumed loan: $2,154/mo
Gap financing: $85/mo
$222less per month with the assumable
Your Savings on This Property
2342 33rd Avenue, Greeley · 5.55% VA vs 6.5% conventional
$222
per month
$2,669
per year
$80,084
over 30 years
$80,084
interest saved
How gap financing works: The equity gap ($32,720) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($12,220 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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