Loan Comparison: 4.98% vs 6.5%
2812 Arbor Avenue, Greeley, CO 80631 · 4bd/2ba · $395,000
List Price
$395,000
Assumable Rate
4.98%
Remaining Balance
$329,845
Equity Gap
$65,154
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$65,154
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.98% + gap loan
$2,084/moAssumed loan: $1,767/mo
Gap financing: $317/mo
$288less per month with the assumable
Your Savings on This Property
2812 Arbor Avenue, Greeley · 4.98% FHA vs 6.5% conventional
$288
per month
$3,453
per year
$103,577
over 30 years
$103,576
interest saved
How gap financing works: The equity gap ($65,154) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($45,404 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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