Loan Comparison: 2.87% vs 6.5%
4507 14th, Greeley, CO 80634 · 5bd/3ba · $795,000
List Price
$795,000
Assumable Rate
2.87%
Remaining Balance
$223,919
Equity Gap
$571,582
Loan Type
FHAAdjust Your Scenario
$39,750
$39,750$571,582
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.87% (FHA)
Blended Rate: 6.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,774/moAssumable @ 2.87% + gap loan
$5,018/moAssumed loan: $928/mo
Gap financing: $4,089/mo
Your Savings on This Property
4507 14th, Greeley · 2.87% 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 ($571,582) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,750, 5% of purchase price) and a second mortgage for the rest ($531,832 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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