Loan Comparison: 3.61% vs 6.5%
7905 11th, Greeley, CO 80634 · 5bd/4ba · $587,900
List Price
$587,900
Assumable Rate
3.61%
Remaining Balance
$257,784
Equity Gap
$356,487
Loan Type
FHAAdjust Your Scenario
$29,395
$29,395$356,487
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 6.34%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,530/moAssumable @ 3.61% + gap loan
$3,689/moAssumed loan: $1,173/mo
Gap financing: $2,515/mo
Your Savings on This Property
7905 11th, Greeley · 3.61% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($356,487) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,395, 5% of purchase price) and a second mortgage for the rest ($327,092 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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