Loan Comparison: 2.8% vs 6.5%
5738 Raleigh Circle, Castle Rock, CO 80104 · 3bd/3ba · $489,000
List Price
$489,000
Assumable Rate
2.8%
Remaining Balance
$315,821
Equity Gap
$173,179
Loan Type
FHAAdjust Your Scenario
$24,450
$24,450$173,179
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (FHA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,936/moAssumable @ 2.8% + gap loan
$2,338/moAssumed loan: $1,298/mo
Gap financing: $1,040/mo
$599less per month with the assumable
Your Savings on This Property
5738 Raleigh Circle, Castle Rock · 2.8% FHA vs 6.5% conventional
$599
per month
$7,184
per year
$215,513
over 30 years
$215,513
interest saved
How gap financing works: The equity gap ($173,179) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,450, 5% of purchase price) and a second mortgage for the rest ($148,729 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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