Loan Comparison: 3.8% vs 6.5%
3012 54th, Greeley, CO 80634 · 5bd/3ba · $549,900
List Price
$549,900
Assumable Rate
3.8%
Remaining Balance
$85,946
Equity Gap
$463,953
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$463,953
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 7.73%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.8% + gap loan
$3,756/moAssumed loan: $400/mo
Gap financing: $3,356/mo
Your Savings on This Property
3012 54th, Greeley · 3.8% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($463,953) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,495, 5% of purchase price) and a second mortgage for the rest ($436,458 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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