Loan Comparison: 3.45% vs 6.5%
8847 16th, Greeley, CO 80634 · 4bd/3ba · $450,000
List Price
$450,000
Assumable Rate
3.45%
Remaining Balance
$401,116
Equity Gap
$148,692
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$148,692
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (FHA)
Blended Rate: 4.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 3.45% + gap loan
$2,760/moAssumed loan: $1,790/mo
Gap financing: $970/mo
Your Savings on This Property
8847 16th, Greeley · 3.45% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$78,845
interest saved
How gap financing works: The equity gap ($148,692) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($126,192 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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