Loan Comparison: 3.16% vs 6.5%
2223 72nd, Greeley, CO 80634 · 4bd/3ba · $465,000
List Price
$465,000
Assumable Rate
3.16%
Remaining Balance
$299,929
Equity Gap
$163,715
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$163,715
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.16% + gap loan
$2,371/moAssumed loan: $1,291/mo
Gap financing: $1,080/mo
$422less per month with the assumable
Your Savings on This Property
2223 72nd, Greeley · 3.16% FHA vs 6.5% conventional
$422
per month
$5,059
per year
$151,764
over 30 years
$150,408
interest saved
How gap financing works: The equity gap ($163,715) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($140,465 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.