Loan Comparison: 4.07% vs 6.5%
608 63rd, Greeley, CO 80634 · 4bd/3ba · $470,000
List Price
$470,000
Assumable Rate
4.07%
Remaining Balance
$343,660
Equity Gap
$169,920
Loan Type
FHAAdjust Your Scenario
$23,500
$23,500$169,920
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,822/moAssumable @ 4.07% + gap loan
$2,780/moAssumed loan: $1,655/mo
Gap financing: $1,126/mo
$42less per month with the assumable
Your Savings on This Property
608 63rd, Greeley · 4.07% FHA vs 6.5% conventional
$42
per month
$501
per year
$15,032
over 30 years
$58,612
interest saved
How gap financing works: The equity gap ($169,920) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,500, 5% of purchase price) and a second mortgage for the rest ($146,420 at 8.5%). 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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