Loan Comparison: 3.76% vs 6.5%
1626 6th, Greeley, CO 80631 · 4bd/2ba · $1,075,000
List Price
$1,075,000
Assumable Rate
3.76%
Remaining Balance
$305,553
Equity Gap
$769,447
Loan Type
FHAAdjust Your Scenario
$53,750
$53,750$769,447
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 7.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,455/moAssumable @ 3.76% + gap loan
$6,920/moAssumed loan: $1,417/mo
Gap financing: $5,503/mo
Your Savings on This Property
1626 6th, Greeley · 3.76% 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 ($769,447) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,750, 5% of purchase price) and a second mortgage for the rest ($715,697 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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