Loan Comparison: 2.94% vs 6.5%
2886 43rd Avenue, Greeley, CO 80634 · 4bd/2ba · $525,000
List Price
$525,000
Assumable Rate
2.94%
Remaining Balance
$325,405
Equity Gap
$199,594
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$199,594
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (FHA)
Blended Rate: 4.52%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.94% + gap loan
$2,573/moAssumed loan: $1,361/mo
Gap financing: $1,212/mo
$579less per month with the assumable
Your Savings on This Property
2886 43rd Avenue, Greeley · 2.94% FHA vs 6.5% conventional
$579
per month
$6,948
per year
$208,433
over 30 years
$208,432
interest saved
How gap financing works: The equity gap ($199,594) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($173,344 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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