Loan Comparison: 3.25% vs 6.5%
6605 4th Street Road, Greeley, CO 80634 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
3.25%
Remaining Balance
$331,072
Equity Gap
$43,927
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$43,927
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.25% (FHA)
Blended Rate: 3.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.25% + gap loan
$1,617/moAssumed loan: $1,441/mo
Gap financing: $176/mo
$635less per month with the assumable
Your Savings on This Property
6605 4th Street Road, Greeley · 3.25% FHA vs 6.5% conventional
$635
per month
$7,618
per year
$228,548
over 30 years
$228,547
interest saved
How gap financing works: The equity gap ($43,927) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($25,177 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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