Loan Comparison: 4.98% vs 6.5%
2812 Arbor, Greeley, CO 80631 · 3bd/2ba · $395,000
List Price
$395,000
Assumable Rate
4.98%
Remaining Balance
$330,888
Equity Gap
$63,594
Loan Type
FHAAdjust Your Scenario
$19,750
$19,750$63,594
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.39%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,372/moAssumable @ 4.98% + gap loan
$2,109/moAssumed loan: $1,772/mo
Gap financing: $337/mo
$262less per month with the assumable
Your Savings on This Property
2812 Arbor, Greeley · 4.98% FHA vs 6.5% conventional
$262
per month
$3,150
per year
$94,492
over 30 years
$93,974
interest saved
How gap financing works: The equity gap ($63,594) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,750, 5% of purchase price) and a second mortgage for the rest ($43,844 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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