Loan Comparison: 6.63% vs 6.5%
3906 22nd Street, Greeley, CO 80634 · 3bd/3ba · $499,900
List Price
$499,900
Assumable Rate
6.63%
Remaining Balance
$8,578
Equity Gap
$491,322
Loan Type
FHAAdjust Your Scenario
$24,995
$24,995$491,322
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.63% (FHA)
Blended Rate: 7.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.63% + gap loan
$3,316/moAssumed loan: $55/mo
Gap financing: $3,261/mo
Your Savings on This Property
3906 22nd Street, Greeley · 6.63% 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 ($491,322) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,995, 5% of purchase price) and a second mortgage for the rest ($466,327 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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