Loan Comparison: 3.76% vs 6.5%
1626 6th Avenue, Greeley, CO 80631 · 2bd/2ba · $1,075,000
List Price
$1,075,000
Assumable Rate
3.76%
Remaining Balance
$303,238
Equity Gap
$771,761
Loan Type
FHAAdjust Your Scenario
$53,750
$53,750$771,761
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,455/moAssumable @ 3.76% + gap loan
$6,427/moAssumed loan: $1,406/mo
Gap financing: $5,020/mo
$28less per month with the assumable
Your Savings on This Property
1626 6th Avenue, Greeley · 3.76% FHA vs 6.5% conventional
$28
per month
$342
per year
$10,258
over 30 years
$10,257
interest saved
How gap financing works: The equity gap ($771,761) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,750, 5% of purchase price) and a second mortgage for the rest ($718,011 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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