Loan Comparison: 4.07% vs 6.5%
2014 81st, Greeley, CO 80634 · 4bd/3ba · $570,000
List Price
$570,000
Assumable Rate
4.07%
Remaining Balance
$389,889
Equity Gap
$253,607
Loan Type
FHAAdjust Your Scenario
$28,500
$28,500$253,607
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.07% (FHA)
Blended Rate: 5.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,423/moAssumable @ 4.07% + gap loan
$3,608/moAssumed loan: $1,877/mo
Gap financing: $1,731/mo
Your Savings on This Property
2014 81st, Greeley · 4.07% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$6,756
interest saved
How gap financing works: The equity gap ($253,607) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,500, 5% of purchase price) and a second mortgage for the rest ($225,107 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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