Loan Comparison: 6.26% vs 6.5%
6120 B Street, Greeley, CO 80634 · 4bd/3ba · $455,000
List Price
$455,000
Assumable Rate
6.26%
Remaining Balance
$423,290
Equity Gap
$31,709
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$31,709
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.26% (FHA)
Blended Rate: 6.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 6.26% + gap loan
$2,672/moAssumed loan: $2,609/mo
Gap financing: $63/mo
$60less per month with the assumable
Your Savings on This Property
6120 B Street, Greeley · 6.26% FHA vs 6.5% conventional
$60
per month
$725
per year
$21,761
over 30 years
$21,760
interest saved
How gap financing works: The equity gap ($31,709) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($8,959 at 7.5%). 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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