Loan Comparison: 3.76% vs 6.5%
1851 13th, Greeley, CO 80631 · 6bd/4ba · $550,000
List Price
$550,000
Assumable Rate
3.76%
Remaining Balance
$470,884
Equity Gap
$97,226
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$97,226
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.76% + gap loan
$2,720/moAssumed loan: $2,183/mo
Gap financing: $536/mo
$583less per month with the assumable
Your Savings on This Property
1851 13th, Greeley · 3.76% FHA vs 6.5% conventional
$583
per month
$6,996
per year
$209,885
over 30 years
$227,995
interest saved
How gap financing works: The equity gap ($97,226) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($69,726 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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