Loan Comparison: 4.17% vs 6.5%
2125 26th Avenue, Greeley, CO 80634 · 6bd/3ba · $465,000
List Price
$465,000
Assumable Rate
4.17%
Remaining Balance
$388,004
Equity Gap
$76,996
Loan Type
VAAdjust Your Scenario
$23,250
$23,250$76,996
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 4.17% + gap loan
$2,304/moAssumed loan: $1,891/mo
Gap financing: $413/mo
$488less per month with the assumable
Your Savings on This Property
2125 26th Avenue, Greeley · 4.17% VA vs 6.5% conventional
$488
per month
$5,859
per year
$175,781
over 30 years
$175,781
interest saved
How gap financing works: The equity gap ($76,996) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($53,746 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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