Loan Comparison: 4.37% vs 6.5%
1827 26th, Greeley, CO 80631 · 4bd/2ba · $370,000
List Price
$370,000
Assumable Rate
4.37%
Remaining Balance
$282,292
Equity Gap
$123,490
Loan Type
FHAAdjust Your Scenario
$18,500
$18,500$123,490
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.37% (FHA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,222/moAssumable @ 4.37% + gap loan
$2,216/moAssumed loan: $1,409/mo
Gap financing: $807/mo
$6less per month with the assumable
Your Savings on This Property
1827 26th, Greeley · 4.37% FHA vs 6.5% conventional
$6
per month
$70
per year
$2,098
over 30 years
$37,880
interest saved
How gap financing works: The equity gap ($123,490) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,500, 5% of purchase price) and a second mortgage for the rest ($104,990 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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