Loan Comparison: 4.46% vs 6.5%
4520 7th, Greeley, CO 80634 · 4bd/2ba · $387,700
List Price
$387,700
Assumable Rate
4.46%
Remaining Balance
$254,972
Equity Gap
$132,728
Loan Type
FHAAdjust Your Scenario
$19,385
$19,385$132,728
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.46% (FHA)
Blended Rate: 5.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,328/moAssumable @ 4.46% + gap loan
$2,157/moAssumed loan: $1,286/mo
Gap financing: $872/mo
$171less per month with the assumable
Your Savings on This Property
4520 7th, Greeley · 4.46% FHA vs 6.5% conventional
$171
per month
$2,048
per year
$61,430
over 30 years
$61,430
interest saved
How gap financing works: The equity gap ($132,728) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,385, 5% of purchase price) and a second mortgage for the rest ($113,343 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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