Loan Comparison: 3.89% vs 6.5%
605 61st Avenue, Greeley, CO 80634 · 6bd/4ba · $529,000
List Price
$529,000
Assumable Rate
3.89%
Remaining Balance
$446,468
Equity Gap
$82,532
Loan Type
VAAdjust Your Scenario
$26,450
$26,450$82,532
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.89% (VA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,176/moAssumable @ 3.89% + gap loan
$2,495/moAssumed loan: $2,103/mo
Gap financing: $392/mo
$681less per month with the assumable
Your Savings on This Property
605 61st Avenue, Greeley · 3.89% VA vs 6.5% conventional
$681
per month
$8,172
per year
$245,172
over 30 years
$245,172
interest saved
How gap financing works: The equity gap ($82,532) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,450, 5% of purchase price) and a second mortgage for the rest ($56,082 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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