Loan Comparison: 2.9% vs 6.5%
1937 29th, Greeley, CO 80634 · 4bd/2ba · $338,900
List Price
$338,900
Assumable Rate
2.9%
Remaining Balance
$1
Equity Gap
$338,899
Loan Type
FHAAdjust Your Scenario
$16,945
$16,945$338,899
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 8.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,035/moAssumable @ 2.9% + gap loan
$2,476/moAssumed loan: $0/mo
Gap financing: $2,476/mo
Your Savings on This Property
1937 29th, Greeley · 2.9% 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 ($338,899) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($16,945, 5% of purchase price) and a second mortgage for the rest ($321,954 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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