Loan Comparison: 4.99% vs 6.5%
2734 73rd Avenue, Greeley, CO 80634 · 4bd/4ba · $495,000
List Price
$495,000
Assumable Rate
4.99%
Remaining Balance
$459,287
Equity Gap
$35,713
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$35,713
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (FHA)
Blended Rate: 5.05%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 4.99% + gap loan
$2,539/moAssumed loan: $2,463/mo
Gap financing: $77/mo
$433less per month with the assumable
Your Savings on This Property
2734 73rd Avenue, Greeley · 4.99% FHA vs 6.5% conventional
$433
per month
$5,195
per year
$155,844
over 30 years
$155,844
interest saved
How gap financing works: The equity gap ($35,713) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($10,963 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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