Loan Comparison: 4.98% vs 6.5%
2410 14th, Greeley, CO 80631 · 2bd/1ba · $365,000
List Price
$365,000
Assumable Rate
4.98%
Remaining Balance
$307,459
Equity Gap
$57,541
Loan Type
FHAAdjust Your Scenario
$18,250
$18,250$57,541
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,192/moAssumable @ 4.98% + gap loan
$1,949/moAssumed loan: $1,647/mo
Gap financing: $302/mo
$243less per month with the assumable
Your Savings on This Property
2410 14th, Greeley · 4.98% FHA vs 6.5% conventional
$243
per month
$2,914
per year
$87,419
over 30 years
$87,419
interest saved
How gap financing works: The equity gap ($57,541) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,250, 5% of purchase price) and a second mortgage for the rest ($39,291 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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