Loan Comparison: 7.06% vs 6.5%
1959 Granger Circle, Castle Rock, CO 80109 · 3bd/2ba · $680,000
List Price
$680,000
Assumable Rate
7.06%
Remaining Balance
$601,578
Equity Gap
$78,422
Loan Type
FHAAdjust Your Scenario
$34,000
$34,000$78,422
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 7.06% (FHA)
Blended Rate: 7.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,083/moAssumable @ 7.06% + gap loan
$4,337/moAssumed loan: $4,027/mo
Gap financing: $311/mo
Your Savings on This Property
1959 Granger Circle, Castle Rock · 7.06% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($78,422) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,000, 5% of purchase price) and a second mortgage for the rest ($44,422 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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