Loan Comparison: 3.08% vs 6.5%
744 27th, Greeley, CO 80634 · 2bd/2ba · $224,000
List Price
$224,000
Assumable Rate
3.08%
Remaining Balance
$123,537
Equity Gap
$100,463
Loan Type
VAAdjust Your Scenario
$11,200
$11,200$100,463
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (VA)
Blended Rate: 5.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,345/moAssumable @ 3.08% + gap loan
$1,213/moAssumed loan: $526/mo
Gap financing: $686/mo
$133less per month with the assumable
Your Savings on This Property
744 27th, Greeley · 3.08% VA vs 6.5% conventional
$133
per month
$1,590
per year
$47,701
over 30 years
$47,701
interest saved
How gap financing works: The equity gap ($100,463) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($11,200, 5% of purchase price) and a second mortgage for the rest ($89,263 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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