Loan Comparison: 2.83% vs 6.5%
1127 25th, Greeley, CO 80634 · 4bd/2ba · $325,000
List Price
$325,000
Assumable Rate
2.83%
Remaining Balance
$196,019
Equity Gap
$128,522
Loan Type
VAAdjust Your Scenario
$16,250
$16,250$128,522
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 4.89%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 2.83% + gap loan
$1,672/moAssumed loan: $809/mo
Gap financing: $863/mo
$280less per month with the assumable
Your Savings on This Property
1127 25th, Greeley · 2.83% VA vs 6.5% conventional
$280
per month
$3,356
per year
$100,683
over 30 years
$100,224
interest saved
How gap financing works: The equity gap ($128,522) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($112,272 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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