Loan Comparison: 7.17% vs 6.5%
4745 Everglade Court, Greeley, CO 80634 · 3bd/3ba · $335,000
List Price
$335,000
Assumable Rate
7.17%
Remaining Balance
$16,209
Equity Gap
$318,790
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$318,790
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.17% (FHA)
Blended Rate: 7.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 7.17% + gap loan
$2,222/moAssumed loan: $110/mo
Gap financing: $2,112/mo
Your Savings on This Property
4745 Everglade Court, 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 ($318,790) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,750, 5% of purchase price) and a second mortgage for the rest ($302,040 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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