Loan Comparison: 3.67% vs 6.5%
3023 43rd Ave Ct, Greeley, CO 80634 · 4bd/3ba · $449,900
List Price
$449,900
Assumable Rate
3.67%
Remaining Balance
$170,057
Equity Gap
$279,842
Loan Type
FHAAdjust Your Scenario
$22,495
$22,495$279,842
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (FHA)
Blended Rate: 5.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,701/moAssumable @ 3.67% + gap loan
$2,579/moAssumed loan: $780/mo
Gap financing: $1,799/mo
$122less per month with the assumable
Your Savings on This Property
3023 43rd Ave Ct, Greeley · 3.67% FHA vs 6.5% conventional
$122
per month
$1,467
per year
$44,000
over 30 years
$43,999
interest saved
How gap financing works: The equity gap ($279,842) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,495, 5% of purchase price) and a second mortgage for the rest ($257,347 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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