Loan Comparison: 6.11% vs 6.5%
3044 Bivouac Point, Castle Rock, CO 80108 · 4bd/4ba · $750,000
List Price
$750,000
Assumable Rate
6.11%
Remaining Balance
$591,533
Equity Gap
$158,466
Loan Type
FHAAdjust Your Scenario
$37,500
$37,500$158,466
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.11% (FHA)
Blended Rate: 6.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,503/moAssumable @ 6.11% + gap loan
$4,434/moAssumed loan: $3,588/mo
Gap financing: $846/mo
$69less per month with the assumable
Your Savings on This Property
3044 Bivouac Point, Castle Rock · 6.11% FHA vs 6.5% conventional
$69
per month
$830
per year
$24,909
over 30 years
$24,908
interest saved
How gap financing works: The equity gap ($158,466) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,500, 5% of purchase price) and a second mortgage for the rest ($120,966 at 7.5%). 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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