Loan Comparison: 5.52% vs 6.5%
205 45th Avenue, Greeley, CO 80634 · 5bd/2ba · $420,000
List Price
$420,000
Assumable Rate
5.52%
Remaining Balance
$386,409
Equity Gap
$33,591
Loan Type
FHAAdjust Your Scenario
$21,000
$21,000$33,591
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.52% (FHA)
Blended Rate: 5.61%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,522/moAssumable @ 5.52% + gap loan
$2,296/moAssumed loan: $2,199/mo
Gap financing: $97/mo
$226less per month with the assumable
Your Savings on This Property
205 45th Avenue, Greeley · 5.52% FHA vs 6.5% conventional
$226
per month
$2,716
per year
$81,467
over 30 years
$81,467
interest saved
How gap financing works: The equity gap ($33,591) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,000, 5% of purchase price) and a second mortgage for the rest ($12,591 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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