Loan Comparison: 4.98% vs 6.5%
5325 Trails Edge Lane, Castle Rock, CO 80104 · 5bd/4ba · $579,999
List Price
$579,999
Assumable Rate
4.98%
Remaining Balance
$531,555
Equity Gap
$48,443
Loan Type
FHAAdjust Your Scenario
$29,000
$29,000$48,443
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 4.98% + gap loan
$2,983/moAssumed loan: $2,847/mo
Gap financing: $136/mo
$500less per month with the assumable
Your Savings on This Property
5325 Trails Edge Lane, Castle Rock · 4.98% FHA vs 6.5% conventional
$500
per month
$5,997
per year
$179,904
over 30 years
$179,903
interest saved
How gap financing works: The equity gap ($48,443) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($19,443 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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