Loan Comparison: 7.44% vs 6.5%
2437 9th Street, Greeley, CO 80634 · 4bd/4ba · $305,000
List Price
$305,000
Assumable Rate
7.44%
Remaining Balance
$255,638
Equity Gap
$49,361
Loan Type
FHAAdjust Your Scenario
$15,250
$15,250$49,361
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.44% (FHA)
Blended Rate: 7.45%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,831/moAssumable @ 7.44% + gap loan
$2,015/moAssumed loan: $1,777/mo
Gap financing: $239/mo
Your Savings on This Property
2437 9th Street, Greeley · 7.44% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($49,361) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,250, 5% of purchase price) and a second mortgage for the rest ($34,111 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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