Loan Comparison: 2.68% vs 6.5%
3887 Ute Mountain Trail, Castle Rock, CO 80109 · 3bd/2ba · $445,000
List Price
$445,000
Assumable Rate
2.68%
Remaining Balance
$285,663
Equity Gap
$159,337
Loan Type
FHAAdjust Your Scenario
$22,250
$22,250$159,337
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,672/moAssumable @ 2.68% + gap loan
$2,114/moAssumed loan: $1,156/mo
Gap financing: $959/mo
$558less per month with the assumable
Your Savings on This Property
3887 Ute Mountain Trail, Castle Rock · 2.68% FHA vs 6.5% conventional
$558
per month
$6,695
per year
$200,846
over 30 years
$200,846
interest saved
How gap financing works: The equity gap ($159,337) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,250, 5% of purchase price) and a second mortgage for the rest ($137,087 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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