Loan Comparison: 3.69% vs 6.5%
130 45th, Greeley, CO 80634 · 3bd/2ba · $399,000
List Price
$399,000
Assumable Rate
3.69%
Remaining Balance
$196,377
Equity Gap
$244,212
Loan Type
FHAAdjust Your Scenario
$19,950
$19,950$244,212
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.69% (FHA)
Blended Rate: 6.25%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,396/moAssumable @ 3.69% + gap loan
$2,627/moAssumed loan: $903/mo
Gap financing: $1,724/mo
Your Savings on This Property
130 45th, Greeley · 3.69% 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 ($244,212) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,950, 5% of purchase price) and a second mortgage for the rest ($224,262 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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