Loan Comparison: 2.89% vs 6.5%
1940 29th, Greeley, CO 80634 · 3bd/3ba · $305,000
List Price
$305,000
Assumable Rate
2.89%
Remaining Balance
$182,167
Equity Gap
$121,994
Loan Type
VAAdjust Your Scenario
$15,250
$15,250$121,994
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 2.89% + gap loan
$1,578/moAssumed loan: $757/mo
Gap financing: $821/mo
$253less per month with the assumable
Your Savings on This Property
1940 29th, Greeley · 2.89% VA vs 6.5% conventional
$253
per month
$3,041
per year
$91,220
over 30 years
$90,381
interest saved
How gap financing works: The equity gap ($121,994) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($106,744 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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