Loan Comparison: 3.06% vs 6.5%
4326 22nd, Greeley, CO 80634 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
3.06%
Remaining Balance
$337,027
Equity Gap
$120,935
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$120,935
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.06% (FHA)
Blended Rate: 4.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 3.06% + gap loan
$2,191/moAssumed loan: $1,432/mo
Gap financing: $759/mo
$481less per month with the assumable
Your Savings on This Property
4326 22nd, Greeley · 3.06% FHA vs 6.5% conventional
$481
per month
$5,777
per year
$173,310
over 30 years
$186,272
interest saved
How gap financing works: The equity gap ($120,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($98,685 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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