Loan Comparison: 3.7% vs 6.5%
220 57th, Greeley, CO 80634 · 4bd/3ba · $549,900
List Price
$549,900
Assumable Rate
3.7%
Remaining Balance
$252,781
Equity Gap
$297,665
Loan Type
VAAdjust Your Scenario
$27,495
$27,495$297,665
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.7% (VA)
Blended Rate: 6.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,302/moAssumable @ 3.7% + gap loan
$3,241/moAssumed loan: $1,164/mo
Gap financing: $2,077/mo
$61less per month with the assumable
Your Savings on This Property
220 57th, Greeley · 3.7% VA vs 6.5% conventional
$61
per month
$733
per year
$21,986
over 30 years
$22,532
interest saved
How gap financing works: The equity gap ($297,665) 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 ($270,170 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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