Loan Comparison: 5.23% vs 6.5%
1974 26th, Greeley, CO 80634 · 4bd/3ba · $655,000
List Price
$655,000
Assumable Rate
5.23%
Remaining Balance
$551,435
Equity Gap
$101,956
Loan Type
VAAdjust Your Scenario
$32,750
$32,750$101,956
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,933/moAssumable @ 5.23% + gap loan
$3,570/moAssumed loan: $3,038/mo
Gap financing: $532/mo
$363less per month with the assumable
Your Savings on This Property
1974 26th, Greeley · 5.23% VA vs 6.5% conventional
$363
per month
$4,352
per year
$130,569
over 30 years
$128,960
interest saved
How gap financing works: The equity gap ($101,956) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,750, 5% of purchase price) and a second mortgage for the rest ($69,206 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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