Loan Comparison: 3.07% vs 6.5%
8611 18th, Greeley, CO 80634 · 5bd/3ba · $485,000
List Price
$485,000
Assumable Rate
3.07%
Remaining Balance
$392,347
Equity Gap
$92,653
Loan Type
VAAdjust Your Scenario
$24,250
$24,250$92,653
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 3.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,912/moAssumable @ 3.07% + gap loan
$2,195/moAssumed loan: $1,669/mo
Gap financing: $526/mo
$717less per month with the assumable
Your Savings on This Property
8611 18th, Greeley · 3.07% VA vs 6.5% conventional
$717
per month
$8,608
per year
$258,226
over 30 years
$258,226
interest saved
How gap financing works: The equity gap ($92,653) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,250, 5% of purchase price) and a second mortgage for the rest ($68,403 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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