Loan Comparison: 5.1% vs 6.5%
2125 44th Avenue, Greeley, CO 80634 · 2bd/1ba · $475,000
List Price
$475,000
Assumable Rate
5.1%
Remaining Balance
$426,771
Equity Gap
$48,229
Loan Type
FHAAdjust Your Scenario
$23,750
$23,750$48,229
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.1% (FHA)
Blended Rate: 5.23%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,852/moAssumable @ 5.1% + gap loan
$2,488/moAssumed loan: $2,317/mo
Gap financing: $171/mo
$364less per month with the assumable
Your Savings on This Property
2125 44th Avenue, Greeley · 5.1% FHA vs 6.5% conventional
$364
per month
$4,367
per year
$131,002
over 30 years
$131,002
interest saved
How gap financing works: The equity gap ($48,229) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,750, 5% of purchase price) and a second mortgage for the rest ($24,479 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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