Loan Comparison: 5.1% vs 6.5%
3583 Brushwood Drive, Castle Rock, CO 80104 · 3bd/3ba · $600,000
List Price
$600,000
Assumable Rate
5.1%
Remaining Balance
$542,796
Equity Gap
$57,203
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$57,203
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.1% (FHA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 5.1% + gap loan
$3,137/moAssumed loan: $2,947/mo
Gap financing: $190/mo
$465less per month with the assumable
Your Savings on This Property
3583 Brushwood Drive, Castle Rock · 5.1% FHA vs 6.5% conventional
$465
per month
$5,586
per year
$167,569
over 30 years
$167,568
interest saved
How gap financing works: The equity gap ($57,203) 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 ($27,203 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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