Loan Comparison: 6.18% vs 6.5%
4664 Cattle Cross Trail, Castle Rock, CO 80104 · 3bd/3ba · $600,000
List Price
$600,000
Assumable Rate
6.18%
Remaining Balance
$510,328
Equity Gap
$89,671
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$89,671
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.18% (FHA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 6.18% + gap loan
$3,536/moAssumed loan: $3,119/mo
Gap financing: $417/mo
$67less per month with the assumable
Your Savings on This Property
4664 Cattle Cross Trail, Castle Rock · 6.18% FHA vs 6.5% conventional
$67
per month
$799
per year
$23,968
over 30 years
$23,967
interest saved
How gap financing works: The equity gap ($89,671) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($59,671 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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