Loan Comparison: 3.76% vs 6.5%
1851 13th Avenue, Greeley, CO 80631 · 4bd/2ba · $529,000
List Price
$529,000
Assumable Rate
3.76%
Remaining Balance
$450,192
Equity Gap
$78,807
Loan Type
FHAAdjust Your Scenario
$26,450
$26,450$78,807
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,176/moAssumable @ 3.76% + gap loan
$2,454/moAssumed loan: $2,087/mo
Gap financing: $366/mo
$723less per month with the assumable
Your Savings on This Property
1851 13th Avenue, Greeley · 3.76% FHA vs 6.5% conventional
$723
per month
$8,675
per year
$260,246
over 30 years
$260,245
interest saved
How gap financing works: The equity gap ($78,807) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,450, 5% of purchase price) and a second mortgage for the rest ($52,357 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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