Loan Comparison: 2.68% vs 6.5%
1324 29th, Greeley, CO 80631 · 3bd/2ba · $370,000
List Price
$370,000
Assumable Rate
2.68%
Remaining Balance
$219,488
Equity Gap
$150,512
Loan Type
VAAdjust Your Scenario
$18,500
$18,500$150,512
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (VA)
Blended Rate: 4.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 2.68% + gap loan
$1,903/moAssumed loan: $888/mo
Gap financing: $1,015/mo
$319less per month with the assumable
Your Savings on This Property
1324 29th, Greeley · 2.68% VA vs 6.5% conventional
$319
per month
$3,825
per year
$114,746
over 30 years
$114,746
interest saved
How gap financing works: The equity gap ($150,512) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($132,012 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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