Loan Comparison: 2.81% vs 6.5%
2827 Deerfoot, Castle Rock, CO 80109 · 3bd/3ba · $665,000
List Price
$665,000
Assumable Rate
2.81%
Remaining Balance
$481,737
Equity Gap
$184,356
Loan Type
FHAAdjust Your Scenario
$33,250
$33,250$184,356
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.81% (FHA)
Blended Rate: 4.17%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,993/moAssumable @ 2.81% + gap loan
$3,144/moAssumed loan: $1,982/mo
Gap financing: $1,162/mo
$849less per month with the assumable
Your Savings on This Property
2827 Deerfoot, Castle Rock · 2.81% FHA vs 6.5% conventional
$849
per month
$10,191
per year
$305,720
over 30 years
$306,813
interest saved
How gap financing works: The equity gap ($184,356) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,250, 5% of purchase price) and a second mortgage for the rest ($151,106 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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