Loan Comparison: 4.17% vs 6.5%
2316 6th, Greeley, CO 80631 · 2bd/1ba · $310,000
List Price
$310,000
Assumable Rate
4.17%
Remaining Balance
$333,510
Equity Gap
$55,560
Loan Type
FHAAdjust Your Scenario
$15,500
$15,500$55,560
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,861/moAssumable @ 4.17% + gap loan
$1,933/moAssumed loan: $1,625/mo
Gap financing: $308/mo
Your Savings on This Property
2316 6th, Greeley · 4.17% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$53,268
interest saved
How gap financing works: The equity gap ($55,560) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,500, 5% of purchase price) and a second mortgage for the rest ($40,060 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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