Loan Comparison: 4.1% vs 6.5%
1024 19th Avenue, Greeley, CO 80631 · 4bd/2ba · $335,000
List Price
$335,000
Assumable Rate
4.1%
Remaining Balance
$103,803
Equity Gap
$231,197
Loan Type
FHAAdjust Your Scenario
$16,750
$16,750$231,197
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.1% (FHA)
Blended Rate: 6.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,012/moAssumable @ 4.1% + gap loan
$2,001/moAssumed loan: $502/mo
Gap financing: $1,499/mo
$11less per month with the assumable
Your Savings on This Property
1024 19th Avenue, Greeley · 4.1% FHA vs 6.5% conventional
$11
per month
$126
per year
$3,794
over 30 years
$3,794
interest saved
How gap financing works: The equity gap ($231,197) 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 ($214,447 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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