Loan Comparison: 2.96% vs 6.5%
608 30th, Greeley, CO 80631 · 3bd/2ba · $400,000
List Price
$400,000
Assumable Rate
2.96%
Remaining Balance
$286,395
Equity Gap
$182,564
Loan Type
FHAAdjust Your Scenario
$20,000
$20,000$182,564
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.96% (FHA)
Blended Rate: 4.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 2.96% + gap loan
$2,451/moAssumed loan: $1,201/mo
Gap financing: $1,250/mo
Your Savings on This Property
608 30th, Greeley · 2.96% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$51,175
interest saved
How gap financing works: The equity gap ($182,564) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($162,564 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.
📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.