Loan Comparison: 2.81% vs 6.5%
4672 20th St Rd, Greeley, CO 80634 · 3bd/2ba · $325,000
List Price
$325,000
Assumable Rate
2.81%
Remaining Balance
$112,347
Equity Gap
$212,653
Loan Type
FHAAdjust Your Scenario
$16,250
$16,250$212,653
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 5.79%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,952/moAssumable @ 2.81% + gap loan
$1,836/moAssumed loan: $462/mo
Gap financing: $1,373/mo
$116less per month with the assumable
Your Savings on This Property
4672 20th St Rd, Greeley · 2.81% FHA vs 6.5% conventional
$116
per month
$1,392
per year
$41,762
over 30 years
$41,762
interest saved
How gap financing works: The equity gap ($212,653) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,250, 5% of purchase price) and a second mortgage for the rest ($196,403 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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