Loan Comparison: 5.23% vs 6.5%
1974 26th, Greeley, CO 80634 · 4bd/3ba · $647,000
List Price
$647,000
Assumable Rate
5.23%
Remaining Balance
$549,813
Equity Gap
$93,956
Loan Type
VAAdjust Your Scenario
$32,350
$32,350$93,956
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.56%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,885/moAssumable @ 5.23% + gap loan
$3,503/moAssumed loan: $3,029/mo
Gap financing: $474/mo
$382less per month with the assumable
Your Savings on This Property
1974 26th, Greeley · 5.23% VA vs 6.5% conventional
$382
per month
$4,584
per year
$137,530
over 30 years
$134,299
interest saved
How gap financing works: The equity gap ($93,956) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,350, 5% of purchase price) and a second mortgage for the rest ($61,606 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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