Loan Comparison: 3.44% vs 6.5%
1720 12th, Greeley, CO 80631 · 3bd/1ba · $350,000
List Price
$350,000
Assumable Rate
3.44%
Remaining Balance
$154,542
Equity Gap
$195,457
Loan Type
FHAAdjust Your Scenario
$17,500
$17,500$195,457
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.44% (FHA)
Blended Rate: 6.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.44% + gap loan
$2,057/moAssumed loan: $689/mo
Gap financing: $1,368/mo
$44less per month with the assumable
Your Savings on This Property
1720 12th, Greeley · 3.44% FHA vs 6.5% conventional
$44
per month
$534
per year
$16,018
over 30 years
$16,017
interest saved
How gap financing works: The equity gap ($195,457) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($177,957 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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