Loan Comparison: 3.07% vs 6.5%
2609 22nd Avenue, Greeley, CO 80631 · 3bd/2ba · $394,500
List Price
$394,500
Assumable Rate
3.07%
Remaining Balance
$317,048
Equity Gap
$77,452
Loan Type
FHAAdjust Your Scenario
$19,725
$19,725$77,452
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,369/moAssumable @ 3.07% + gap loan
$1,752/moAssumed loan: $1,349/mo
Gap financing: $404/mo
$617less per month with the assumable
Your Savings on This Property
2609 22nd Avenue, Greeley · 3.07% FHA vs 6.5% conventional
$617
per month
$7,398
per year
$221,944
over 30 years
$221,944
interest saved
How gap financing works: The equity gap ($77,452) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,725, 5% of purchase price) and a second mortgage for the rest ($57,727 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2609 22nd Avenue.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.