Loan Comparison: 6.16% vs 6.5%
455 Whisper Wind Lane, Castle Rock, CO 80104 · 4bd/4ba · $499,999
List Price
$499,999
Assumable Rate
6.16%
Remaining Balance
$323,264
Equity Gap
$176,735
Loan Type
FHAAdjust Your Scenario
$25,000
$25,000$176,735
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.16% (FHA)
Blended Rate: 6.59%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,002/moAssumable @ 6.16% + gap loan
$3,032/moAssumed loan: $1,972/mo
Gap financing: $1,061/mo
Your Savings on This Property
455 Whisper Wind Lane, Castle Rock · 6.16% 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 ($176,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,000, 5% of purchase price) and a second mortgage for the rest ($151,735 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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