Loan Comparison: 3.16% vs 6.5%
4807 Bearlily Way, Castle Rock, CO 80109 · 3bd/2ba · $495,000
List Price
$495,000
Assumable Rate
3.16%
Remaining Balance
$339,501
Equity Gap
$155,499
Loan Type
FHAAdjust Your Scenario
$24,750
$24,750$155,499
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,972/moAssumable @ 3.16% + gap loan
$2,375/moAssumed loan: $1,461/mo
Gap financing: $914/mo
$597less per month with the assumable
Your Savings on This Property
4807 Bearlily Way, Castle Rock · 3.16% FHA vs 6.5% conventional
$597
per month
$7,167
per year
$215,018
over 30 years
$215,018
interest saved
How gap financing works: The equity gap ($155,499) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,750, 5% of purchase price) and a second mortgage for the rest ($130,749 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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