Loan Comparison: 3.61% vs 6.5%
1390 Whitetail Drive, Castle Rock, CO 80104 · 4bd/3ba · $767,900
List Price
$767,900
Assumable Rate
3.61%
Remaining Balance
$319,304
Equity Gap
$448,595
Loan Type
FHAAdjust Your Scenario
$38,395
$38,395$448,595
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,611/moAssumable @ 3.61% + gap loan
$4,322/moAssumed loan: $1,453/mo
Gap financing: $2,868/mo
$289less per month with the assumable
Your Savings on This Property
1390 Whitetail Drive, Castle Rock · 3.61% FHA vs 6.5% conventional
$289
per month
$3,472
per year
$104,146
over 30 years
$104,145
interest saved
How gap financing works: The equity gap ($448,595) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,395, 5% of purchase price) and a second mortgage for the rest ($410,200 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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