Loan Comparison: 3.8% vs 6.5%
1325 20th, Greeley, CO 80631 · 3bd/2ba · $360,000
List Price
$360,000
Assumable Rate
3.8%
Remaining Balance
$118,219
Equity Gap
$242,211
Loan Type
FHAAdjust Your Scenario
$18,000
$18,000$242,211
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (FHA)
Blended Rate: 6.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,162/moAssumable @ 3.8% + gap loan
$2,275/moAssumed loan: $551/mo
Gap financing: $1,724/mo
Your Savings on This Property
1325 20th, Greeley · 3.8% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($242,211) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,000, 5% of purchase price) and a second mortgage for the rest ($224,211 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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