Loan Comparison: 6.54% vs 6.5%
4322 22nd Street, Greeley, CO 80634 · 6bd/3ba · $475,000
List Price
$475,000
Assumable Rate
6.54%
Remaining Balance
$397,309
Equity Gap
$77,690
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$77,690
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.54% (FHA)
Blended Rate: 6.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 6.54% + gap loan
$2,899/moAssumed loan: $2,522/mo
Gap financing: $377/mo
Your Savings on This Property
4322 22nd Street, Greeley · 6.54% 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 ($77,690) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($53,940 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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