Loan Comparison: 3.48% vs 6.5%
7718 Greenwater, Castle Rock, CO 80108 · 5bd/3ba · $715,000
List Price
$715,000
Assumable Rate
3.48%
Remaining Balance
$489,332
Equity Gap
$225,668
Loan Type
FHAAdjust Your Scenario
$35,750
$35,750$225,668
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.48% (FHA)
Blended Rate: 4.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,293/moAssumable @ 3.48% + gap loan
$3,652/moAssumed loan: $2,192/mo
Gap financing: $1,460/mo
$641less per month with the assumable
Your Savings on This Property
7718 Greenwater, Castle Rock · 3.48% FHA vs 6.5% conventional
$641
per month
$7,694
per year
$230,816
over 30 years
$230,816
interest saved
How gap financing works: The equity gap ($225,668) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,750, 5% of purchase price) and a second mortgage for the rest ($189,918 at 8.5%). 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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