Loan Comparison: 3.76% vs 6.5%
2101 Wedgewood, Greeley, CO 80631 · 4bd/2ba · $400,000
List Price
$400,000
Assumable Rate
3.76%
Remaining Balance
$348,529
Equity Gap
$65,502
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$65,502
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.76% + gap loan
$1,966/moAssumed loan: $1,616/mo
Gap financing: $350/mo
$436less per month with the assumable
Your Savings on This Property
2101 Wedgewood, Greeley · 3.76% FHA vs 6.5% conventional
$436
per month
$5,231
per year
$156,930
over 30 years
$170,961
interest saved
How gap financing works: The equity gap ($65,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($45,502 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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