Loan Comparison: 2.87% vs 6.5%
6607 4th, Greeley, CO 80634 · 3bd/3ba · $345,000
List Price
$345,000
Assumable Rate
2.87%
Remaining Balance
$325,320
Equity Gap
$18,952
Loan Type
FHAAdjust Your Scenario
$17,250
$17,250$18,952
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 2.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,072/moAssumable @ 2.87% + gap loan
$1,362/moAssumed loan: $1,349/mo
Gap financing: $13/mo
$710less per month with the assumable
Your Savings on This Property
6607 4th, Greeley · 2.87% FHA vs 6.5% conventional
$710
per month
$8,516
per year
$255,477
over 30 years
$254,749
interest saved
How gap financing works: The equity gap ($18,952) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,250, 5% of purchase price) and a second mortgage for the rest ($1,702 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.