Loan Comparison: 3.76% vs 6.5%
754 Blue Teal Drive, Castle Rock, CO 80104 · 2bd/2ba · $585,000
List Price
$585,000
Assumable Rate
3.76%
Remaining Balance
$525,162
Equity Gap
$59,838
Loan Type
FHAAdjust Your Scenario
$29,250
$29,250$59,838
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 3.97%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 3.76% + gap loan
$2,649/moAssumed loan: $2,435/mo
Gap financing: $214/mo
$864less per month with the assumable
Your Savings on This Property
754 Blue Teal Drive, Castle Rock · 3.76% FHA vs 6.5% conventional
$864
per month
$10,365
per year
$310,952
over 30 years
$310,952
interest saved
How gap financing works: The equity gap ($59,838) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($30,588 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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