Loan Comparison: 6.27% vs 6.5%
4863 Cattle Cross Trail, Castle Rock, CO 80104 · 5bd/4ba · $659,000
List Price
$659,000
Assumable Rate
6.27%
Remaining Balance
$559,850
Equity Gap
$99,149
Loan Type
FHAAdjust Your Scenario
$32,950
$32,950$99,149
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.27% (FHA)
Blended Rate: 6.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,957/moAssumable @ 6.27% + gap loan
$3,917/moAssumed loan: $3,454/mo
Gap financing: $463/mo
$40less per month with the assumable
Your Savings on This Property
4863 Cattle Cross Trail, Castle Rock · 6.27% FHA vs 6.5% conventional
$40
per month
$478
per year
$14,332
over 30 years
$14,331
interest saved
How gap financing works: The equity gap ($99,149) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,950, 5% of purchase price) and a second mortgage for the rest ($66,199 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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