Loan Comparison: 6.69% vs 6.5%
479 Black Feather Loop, Castle Rock, CO 80104 · 4bd/3ba · $374,000
List Price
$374,000
Assumable Rate
6.69%
Remaining Balance
$281,162
Equity Gap
$92,838
Loan Type
FHAAdjust Your Scenario
$18,700
$18,700$92,838
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.69% (FHA)
Blended Rate: 6.86%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,246/moAssumable @ 6.69% + gap loan
$2,331/moAssumed loan: $1,812/mo
Gap financing: $518/mo
Your Savings on This Property
479 Black Feather Loop, Castle Rock · 6.69% 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 ($92,838) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,700, 5% of purchase price) and a second mortgage for the rest ($74,138 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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