Loan Comparison: 5.2% vs 6.5%
4382 Andover Avenue, Castle Rock, CO 80104 · 4bd/5ba · $515,000
List Price
$515,000
Assumable Rate
5.2%
Remaining Balance
$127,488
Equity Gap
$387,512
Loan Type
FHAAdjust Your Scenario
$25,750
$25,750$387,512
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.2% (FHA)
Blended Rate: 6.90%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,092/moAssumable @ 5.2% + gap loan
$3,230/moAssumed loan: $700/mo
Gap financing: $2,529/mo
Your Savings on This Property
4382 Andover Avenue, Castle Rock · 5.2% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($387,512) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,750, 5% of purchase price) and a second mortgage for the rest ($361,762 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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