Loan Comparison: 2.74% vs 6.5%
4504 Rapport Drive, Castle Rock, CO 80104 · 5bd/4ba · $599,990
List Price
$599,990
Assumable Rate
2.74%
Remaining Balance
$388,129
Equity Gap
$211,860
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$211,860
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.26%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 2.74% + gap loan
$2,854/moAssumed loan: $1,582/mo
Gap financing: $1,272/mo
$749less per month with the assumable
Your Savings on This Property
4504 Rapport Drive, Castle Rock · 2.74% FHA vs 6.5% conventional
$749
per month
$8,984
per year
$269,528
over 30 years
$269,526
interest saved
How gap financing works: The equity gap ($211,860) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($181,860 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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