Loan Comparison: 2.81% vs 6.5%
87 Peabody Street, Castle Rock, CO 80104 · 4bd/4ba · $450,000
List Price
$450,000
Assumable Rate
2.81%
Remaining Balance
$376,635
Equity Gap
$73,365
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$73,365
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 3.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 2.81% + gap loan
$1,905/moAssumed loan: $1,550/mo
Gap financing: $356/mo
$797less per month with the assumable
Your Savings on This Property
87 Peabody Street, Castle Rock · 2.81% FHA vs 6.5% conventional
$797
per month
$9,562
per year
$286,870
over 30 years
$286,870
interest saved
How gap financing works: The equity gap ($73,365) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($50,865 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.
🏠
Back to This Listing
View photos, details, and request a showing for 87 Peabody Street.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.