Loan Comparison: 3.84% vs 6.5%
1521 44th, Greeley, CO 80634 · 3bd/3ba · $409,900
List Price
$409,900
Assumable Rate
3.84%
Remaining Balance
$220,924
Equity Gap
$239,212
Loan Type
FHAAdjust Your Scenario
$20,495
$20,495$239,212
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.84% (FHA)
Blended Rate: 6.16%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,461/moAssumable @ 3.84% + gap loan
$2,716/moAssumed loan: $1,034/mo
Gap financing: $1,682/mo
Your Savings on This Property
1521 44th, Greeley · 3.84% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($239,212) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,495, 5% of purchase price) and a second mortgage for the rest ($218,717 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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