Loan Comparison: 3.875% vs 6.5%
1172 Basalt Ridge, Castle Rock, CO 80108 · 3bd/3ba · $654,900
List Price
$654,900
Assumable Rate
3.875%
Remaining Balance
$395,979
Equity Gap
$275,458
Loan Type
FHAAdjust Your Scenario
$32,745
$32,745$275,458
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.875% (FHA)
Blended Rate: 5.63%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,932/moAssumable @ 3.875% + gap loan
$3,728/moAssumed loan: $1,862/mo
Gap financing: $1,866/mo
$204less per month with the assumable
Your Savings on This Property
1172 Basalt Ridge, Castle Rock · 3.875% FHA vs 6.5% conventional
$204
per month
$2,450
per year
$73,494
over 30 years
$90,031
interest saved
How gap financing works: The equity gap ($275,458) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,745, 5% of purchase price) and a second mortgage for the rest ($242,713 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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