Loan Comparison: 3.45% vs 6.5%
4817 Everest, Greeley, CO 80634 · 3bd/2ba · $430,000
List Price
$430,000
Assumable Rate
3.45%
Remaining Balance
$260,883
Equity Gap
$180,251
Loan Type
FHAAdjust Your Scenario
$21,500
$21,500$180,251
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 5.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,582/moAssumable @ 3.45% + gap loan
$2,385/moAssumed loan: $1,164/mo
Gap financing: $1,221/mo
$197less per month with the assumable
Your Savings on This Property
4817 Everest, Greeley · 3.45% FHA vs 6.5% conventional
$197
per month
$2,366
per year
$70,966
over 30 years
$82,100
interest saved
How gap financing works: The equity gap ($180,251) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,500, 5% of purchase price) and a second mortgage for the rest ($158,751 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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