Loan Comparison: 2.98% vs 6.5%
177 45th, Greeley, CO 80634 · 3bd/2ba · $425,000
List Price
$425,000
Assumable Rate
2.98%
Remaining Balance
$197,317
Equity Gap
$227,682
Loan Type
VAAdjust Your Scenario
$21,250
$21,250$227,682
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,552/moAssumable @ 2.98% + gap loan
$2,417/moAssumed loan: $830/mo
Gap financing: $1,587/mo
$135less per month with the assumable
Your Savings on This Property
177 45th, Greeley · 2.98% VA vs 6.5% conventional
$135
per month
$1,619
per year
$48,572
over 30 years
$48,571
interest saved
How gap financing works: The equity gap ($227,682) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,250, 5% of purchase price) and a second mortgage for the rest ($206,432 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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