Loan Comparison: 4.99% vs 6.5%
2734 73rd, Greeley, CO 80634 · 3bd/3ba · $495,000
List Price
$495,000
Assumable Rate
4.99%
Remaining Balance
$464,101
Equity Gap
$35,085
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$35,085
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (FHA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 4.99% + gap loan
$2,568/moAssumed loan: $2,489/mo
Gap financing: $79/mo
$404less per month with the assumable
Your Savings on This Property
2734 73rd, Greeley · 4.99% FHA vs 6.5% conventional
$404
per month
$4,851
per year
$145,539
over 30 years
$149,725
interest saved
How gap financing works: The equity gap ($35,085) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($10,335 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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