Loan Comparison: 3.62% vs 6.5%
333 26th, Greeley, CO 80631 · 3bd/2ba · $349,900
List Price
$349,900
Assumable Rate
3.62%
Remaining Balance
$266,304
Equity Gap
$125,962
Loan Type
VAAdjust Your Scenario
$17,495
$17,495$125,962
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,101/moAssumable @ 3.62% + gap loan
$2,048/moAssumed loan: $1,214/mo
Gap financing: $834/mo
$53less per month with the assumable
Your Savings on This Property
333 26th, Greeley · 3.62% VA vs 6.5% conventional
$53
per month
$639
per year
$19,179
over 30 years
$61,545
interest saved
How gap financing works: The equity gap ($125,962) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,495, 5% of purchase price) and a second mortgage for the rest ($108,467 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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