Loan Comparison: 2.68% vs 6.5%
3887 Ute Mountain, Castle Rock, CO 80109 · 3bd/2ba · $455,000
List Price
$455,000
Assumable Rate
2.68%
Remaining Balance
$287,709
Equity Gap
$167,291
Loan Type
FHAAdjust Your Scenario
$22,750
$22,750$167,291
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 2.68% + gap loan
$2,275/moAssumed loan: $1,164/mo
Gap financing: $1,111/mo
$457less per month with the assumable
Your Savings on This Property
3887 Ute Mountain, Castle Rock · 2.68% FHA vs 6.5% conventional
$457
per month
$5,482
per year
$164,452
over 30 years
$164,452
interest saved
How gap financing works: The equity gap ($167,291) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($144,541 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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