Loan Comparison: 3.07% vs 6.5%
1919 88th, Greeley, CO 80634 · 5bd/4ba · $429,000
List Price
$429,000
Assumable Rate
3.07%
Remaining Balance
$355,252
Equity Gap
$73,747
Loan Type
VAAdjust Your Scenario
$21,450
$21,450$73,747
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.77%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,576/moAssumable @ 3.07% + gap loan
$1,913/moAssumed loan: $1,511/mo
Gap financing: $402/mo
$663less per month with the assumable
Your Savings on This Property
1919 88th, Greeley · 3.07% VA vs 6.5% conventional
$663
per month
$7,952
per year
$238,562
over 30 years
$238,561
interest saved
How gap financing works: The equity gap ($73,747) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,450, 5% of purchase price) and a second mortgage for the rest ($52,297 at 8.5%). 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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