Loan Comparison: 2.68% vs 6.5%
3887 Ute Mountain, Castle Rock, CO 80109 · 3bd/2ba · $465,000
List Price
$465,000
Assumable Rate
2.68%
Remaining Balance
$289,066
Equity Gap
$175,934
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$175,934
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.68% (FHA)
Blended Rate: 4.69%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 2.68% + gap loan
$2,343/moAssumed loan: $1,169/mo
Gap financing: $1,174/mo
$449less per month with the assumable
Your Savings on This Property
3887 Ute Mountain, Castle Rock · 2.68% FHA vs 6.5% conventional
$449
per month
$5,385
per year
$161,552
over 30 years
$161,552
interest saved
How gap financing works: The equity gap ($175,934) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($152,684 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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