Loan Comparison: 3.1% vs 6.5%
4355 24th, Greeley, CO 80634 · 3bd/3ba · $359,000
List Price
$359,000
Assumable Rate
3.1%
Remaining Balance
$312,262
Equity Gap
$58,748
Loan Type
FHAAdjust Your Scenario
$17,950
$17,950$58,748
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (FHA)
Blended Rate: 3.72%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,156/moAssumable @ 3.1% + gap loan
$1,647/moAssumed loan: $1,333/mo
Gap financing: $314/mo
$509less per month with the assumable
Your Savings on This Property
4355 24th, Greeley · 3.1% FHA vs 6.5% conventional
$509
per month
$6,103
per year
$183,080
over 30 years
$195,090
interest saved
How gap financing works: The equity gap ($58,748) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,950, 5% of purchase price) and a second mortgage for the rest ($40,798 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.