Loan Comparison: 3.23% vs 6.5%
2108 Oakcrest Circle, Castle Rock, CO 80104 · 3bd/2ba · $315,000
List Price
$315,000
Assumable Rate
3.23%
Remaining Balance
$221,884
Equity Gap
$93,116
Loan Type
FHAAdjust Your Scenario
$15,750
$15,750$93,116
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.23% (FHA)
Blended Rate: 4.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$1,891/moAssumable @ 3.23% + gap loan
$1,504/moAssumed loan: $963/mo
Gap financing: $541/mo
$387less per month with the assumable
Your Savings on This Property
2108 Oakcrest Circle, Castle Rock · 3.23% FHA vs 6.5% conventional
$387
per month
$4,647
per year
$139,424
over 30 years
$139,424
interest saved
How gap financing works: The equity gap ($93,116) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($15,750, 5% of purchase price) and a second mortgage for the rest ($77,366 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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