Loan Comparison: 5.23% vs 6.5%
1974 26th, Greeley, CO 80634 · 4bd/3ba · $670,000
List Price
$670,000
Assumable Rate
5.23%
Remaining Balance
$551,435
Equity Gap
$116,956
Loan Type
VAAdjust Your Scenario
$33,500
$33,500$116,956
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 5.23% + gap loan
$3,680/moAssumed loan: $3,038/mo
Gap financing: $642/mo
$343less per month with the assumable
Your Savings on This Property
1974 26th, Greeley · 5.23% VA vs 6.5% conventional
$343
per month
$4,118
per year
$123,549
over 30 years
$121,940
interest saved
How gap financing works: The equity gap ($116,956) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,500, 5% of purchase price) and a second mortgage for the rest ($83,456 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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