Loan Comparison: 4.375% vs 6.5%
2413 15th, Greeley, CO 80631 · 2bd/1ba · $330,000
List Price
$330,000
Assumable Rate
4.375%
Remaining Balance
$300,452
Equity Gap
$26,014
Loan Type
FHAAdjust Your Scenario
$16,500
$16,500$26,014
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.375% (FHA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,982/moAssumable @ 4.375% + gap loan
$1,573/moAssumed loan: $1,500/mo
Gap financing: $73/mo
$408less per month with the assumable
Your Savings on This Property
2413 15th, Greeley · 4.375% FHA vs 6.5% conventional
$408
per month
$4,899
per year
$146,976
over 30 years
$143,442
interest saved
How gap financing works: The equity gap ($26,014) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,500, 5% of purchase price) and a second mortgage for the rest ($9,514 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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