Loan Comparison: 2.9% vs 6.5%
652 Cinnabar Lane, Castle Rock, CO 80109 · 3bd/3ba · $799,999
List Price
$799,999
Assumable Rate
2.9%
Remaining Balance
$520,107
Equity Gap
$279,892
Loan Type
FHAAdjust Your Scenario
$40,000
$40,000$279,892
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 2.9% + gap loan
$3,842/moAssumed loan: $2,165/mo
Gap financing: $1,677/mo
$962less per month with the assumable
Your Savings on This Property
652 Cinnabar Lane, Castle Rock · 2.9% FHA vs 6.5% conventional
$962
per month
$11,538
per year
$346,144
over 30 years
$346,144
interest saved
How gap financing works: The equity gap ($279,892) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($239,892 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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