Loan Comparison: 7.17% vs 6.5%
2211 C Street, Greeley, CO 80631 · 3bd/3ba · $360,000
List Price
$360,000
Assumable Rate
7.17%
Remaining Balance
$331,223
Equity Gap
$28,777
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$28,777
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.17% (FHA)
Blended Rate: 7.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 7.17% + gap loan
$2,317/moAssumed loan: $2,242/mo
Gap financing: $75/mo
Your Savings on This Property
2211 C Street, Greeley · 7.17% 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 ($28,777) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($10,777 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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