Loan Comparison: 3.82% vs 6.5%
1172 Basalt Ridge, Castle Rock, CO 80108 · 3bd/3ba · $659,000
List Price
$659,000
Assumable Rate
3.82%
Remaining Balance
$398,595
Equity Gap
$278,714
Loan Type
FHAAdjust Your Scenario
$32,950
$32,950$278,714
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.82% (FHA)
Blended Rate: 5.60%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,957/moAssumable @ 3.82% + gap loan
$3,752/moAssumed loan: $1,862/mo
Gap financing: $1,890/mo
$206less per month with the assumable
Your Savings on This Property
1172 Basalt Ridge, Castle Rock · 3.82% FHA vs 6.5% conventional
$206
per month
$2,466
per year
$73,989
over 30 years
$92,298
interest saved
How gap financing works: The equity gap ($278,714) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,950, 5% of purchase price) and a second mortgage for the rest ($245,764 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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