Loan Comparison: 3.08% vs 6.5%
5207 11th, Greeley, CO 80634 · 3bd/3ba · $375,000
List Price
$375,000
Assumable Rate
3.08%
Remaining Balance
$287,083
Equity Gap
$99,556
Loan Type
FHAAdjust Your Scenario
$18,750
$18,750$99,556
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.08% (FHA)
Blended Rate: 4.27%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 3.08% + gap loan
$1,844/moAssumed loan: $1,223/mo
Gap financing: $621/mo
$408less per month with the assumable
Your Savings on This Property
5207 11th, Greeley · 3.08% FHA vs 6.5% conventional
$408
per month
$4,892
per year
$146,750
over 30 years
$158,389
interest saved
How gap financing works: The equity gap ($99,556) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($80,806 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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