Loan Comparison: 2.24% vs 6.5%
1721 21st, Greeley, CO 80631 · 5bd/2ba · $515,000
List Price
$515,000
Assumable Rate
2.24%
Remaining Balance
$259,737
Equity Gap
$255,262
Loan Type
VAAdjust Your Scenario
$25,750
$25,750$255,262
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.24% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 2.24% + gap loan
$2,756/moAssumed loan: $992/mo
Gap financing: $1,765/mo
$336less per month with the assumable
Your Savings on This Property
1721 21st, Greeley · 2.24% VA vs 6.5% conventional
$336
per month
$4,034
per year
$121,008
over 30 years
$121,007
interest saved
How gap financing works: The equity gap ($255,262) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($229,512 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.