Loan Comparison: 4.98% vs 6.5%
465 Silver Rock Trail, Castle Rock, CO 80104 · 4bd/3ba · $599,900
List Price
$599,900
Assumable Rate
4.98%
Remaining Balance
$522,550
Equity Gap
$77,349
Loan Type
FHAAdjust Your Scenario
$29,995
$29,995$77,349
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 4.98% + gap loan
$3,130/moAssumed loan: $2,799/mo
Gap financing: $331/mo
$472less per month with the assumable
Your Savings on This Property
465 Silver Rock Trail, Castle Rock · 4.98% FHA vs 6.5% conventional
$472
per month
$5,668
per year
$170,029
over 30 years
$170,028
interest saved
How gap financing works: The equity gap ($77,349) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($47,354 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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