Loan Comparison: 3.92% vs 6.5%
2601 Alpine, Greeley, CO 80631 · 4bd/2ba · $387,000
List Price
$387,000
Assumable Rate
3.92%
Remaining Balance
$243,810
Equity Gap
$189,419
Loan Type
FHAAdjust Your Scenario
$19,350
$19,350$189,419
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.92% (FHA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,324/moAssumable @ 3.92% + gap loan
$2,460/moAssumed loan: $1,153/mo
Gap financing: $1,308/mo
Your Savings on This Property
2601 Alpine, Greeley · 3.92% 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 ($189,419) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,350, 5% of purchase price) and a second mortgage for the rest ($170,069 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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