Loan Comparison: 6.92% vs 6.5%
784 Ellsworth Court, Castle Rock, CO 80104 · 6bd/4ba · $775,000
List Price
$775,000
Assumable Rate
6.92%
Remaining Balance
$658,205
Equity Gap
$116,794
Loan Type
FHAAdjust Your Scenario
$38,750
$38,750$116,794
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.92% (FHA)
Blended Rate: 6.98%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 6.92% + gap loan
$4,889/moAssumed loan: $4,344/mo
Gap financing: $546/mo
Your Savings on This Property
784 Ellsworth Court, Castle Rock · 6.92% 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 ($116,794) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($78,044 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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