Loan Comparison: 3.76% vs 6.5%
2101 Wedgewood, Greeley, CO 80631 · 4bd/2ba · $390,000
List Price
$390,000
Assumable Rate
3.76%
Remaining Balance
$333,870
Equity Gap
$55,502
Loan Type
FHAAdjust Your Scenario
$19,500
$19,500$55,502
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,342/moAssumable @ 3.76% + gap loan
$1,825/moAssumed loan: $1,548/mo
Gap financing: $277/mo
$517less per month with the assumable
Your Savings on This Property
2101 Wedgewood, Greeley · 3.76% FHA vs 6.5% conventional
$517
per month
$6,203
per year
$186,080
over 30 years
$185,452
interest saved
How gap financing works: The equity gap ($55,502) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,500, 5% of purchase price) and a second mortgage for the rest ($36,002 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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