Loan Comparison: 3.45% vs 6.5%
3405 16th, Greeley, CO 80634 · 2bd/2ba · $255,000
List Price
$255,000
Assumable Rate
3.45%
Remaining Balance
$230,520
Equity Gap
$24,480
Loan Type
VAAdjust Your Scenario
$12,750
$12,750$24,480
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 3.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,531/moAssumable @ 3.45% + gap loan
$1,119/moAssumed loan: $1,029/mo
Gap financing: $90/mo
$412less per month with the assumable
Your Savings on This Property
3405 16th, Greeley · 3.45% VA vs 6.5% conventional
$412
per month
$4,947
per year
$148,420
over 30 years
$148,420
interest saved
How gap financing works: The equity gap ($24,480) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($12,750, 5% of purchase price) and a second mortgage for the rest ($11,730 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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