Loan Comparison: 2.9% vs 6.5%
990 Quarterhorse Trail, Castle Rock, CO 80109 · 2bd/3ba · $600,000
List Price
$600,000
Assumable Rate
2.9%
Remaining Balance
$319,822
Equity Gap
$280,177
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$280,177
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 2.9% + gap loan
$3,080/moAssumed loan: $1,331/mo
Gap financing: $1,749/mo
$522less per month with the assumable
Your Savings on This Property
990 Quarterhorse Trail, Castle Rock · 2.9% FHA vs 6.5% conventional
$522
per month
$6,268
per year
$188,035
over 30 years
$188,034
interest saved
How gap financing works: The equity gap ($280,177) 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 ($250,177 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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