Loan Comparison: 2.74% vs 6.5%
1509 25th, Greeley, CO 80631 · 4bd/2ba · $295,000
List Price
$295,000
Assumable Rate
2.74%
Remaining Balance
$244,597
Equity Gap
$51,526
Loan Type
VAAdjust Your Scenario
$14,750
$14,750$51,526
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,771/moAssumable @ 2.74% + gap loan
$1,280/moAssumed loan: $997/mo
Gap financing: $283/mo
$491less per month with the assumable
Your Savings on This Property
1509 25th, Greeley · 2.74% VA vs 6.5% conventional
$491
per month
$5,896
per year
$176,884
over 30 years
$178,007
interest saved
How gap financing works: The equity gap ($51,526) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($14,750, 5% of purchase price) and a second mortgage for the rest ($36,776 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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