Loan Comparison: 3.77% vs 6.5%
2117 74th, Greeley, CO 80634 · 3bd/3ba · $440,000
List Price
$440,000
Assumable Rate
3.77%
Remaining Balance
$231,077
Equity Gap
$208,923
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$208,923
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.77% (VA)
Blended Rate: 5.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 3.77% + gap loan
$2,510/moAssumed loan: $1,073/mo
Gap financing: $1,437/mo
$132less per month with the assumable
Your Savings on This Property
2117 74th, Greeley · 3.77% VA vs 6.5% conventional
$132
per month
$1,584
per year
$47,517
over 30 years
$47,517
interest saved
How gap financing works: The equity gap ($208,923) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($186,923 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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