Loan Comparison: 4% vs 6.5%
4778 Bearlily Way, Castle Rock, CO 80109 · 3bd/1ba · $575,000
List Price
$575,000
Assumable Rate
4%
Remaining Balance
$517,690
Equity Gap
$57,310
Loan Type
FHAAdjust Your Scenario
$28,750
$28,750$57,310
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (FHA)
Blended Rate: 4.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 4% + gap loan
$2,671/moAssumed loan: $2,472/mo
Gap financing: $200/mo
$781less per month with the assumable
Your Savings on This Property
4778 Bearlily Way, Castle Rock · 4% FHA vs 6.5% conventional
$781
per month
$9,377
per year
$281,320
over 30 years
$281,320
interest saved
How gap financing works: The equity gap ($57,310) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($28,560 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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