Loan Comparison: 4.83% vs 6.5%
740 Deer Clover Circle, Castle Rock, CO 80108 · 4bd/4ba · $880,000
List Price
$880,000
Assumable Rate
4.83%
Remaining Balance
$382,448
Equity Gap
$497,552
Loan Type
FHAAdjust Your Scenario
$44,000
$44,000$497,552
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.83% (FHA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,284/moAssumable @ 4.83% + gap loan
$5,185/moAssumed loan: $2,014/mo
Gap financing: $3,171/mo
$99less per month with the assumable
Your Savings on This Property
740 Deer Clover Circle, Castle Rock · 4.83% FHA vs 6.5% conventional
$99
per month
$1,191
per year
$35,739
over 30 years
$35,739
interest saved
How gap financing works: The equity gap ($497,552) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,000, 5% of purchase price) and a second mortgage for the rest ($453,552 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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