Loan Comparison: 4.46% vs 6.5%
4520 7th Street, Greeley, CO 80634 · 5bd/2ba · $387,700
List Price
$387,700
Assumable Rate
4.46%
Remaining Balance
$253,895
Equity Gap
$133,804
Loan Type
FHAAdjust Your Scenario
$19,385
$19,385$133,804
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (FHA)
Blended Rate: 5.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,328/moAssumable @ 4.46% + gap loan
$2,080/moAssumed loan: $1,280/mo
Gap financing: $800/mo
$248less per month with the assumable
Your Savings on This Property
4520 7th Street, Greeley · 4.46% FHA vs 6.5% conventional
$248
per month
$2,971
per year
$89,116
over 30 years
$89,115
interest saved
How gap financing works: The equity gap ($133,804) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,385, 5% of purchase price) and a second mortgage for the rest ($114,419 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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