Loan Comparison: 4.98% vs 6.5%
5325 Trails Edge, Castle Rock, CO 80104 · 3bd/2ba · $624,900
List Price
$624,900
Assumable Rate
4.98%
Remaining Balance
$535,728
Equity Gap
$89,171
Loan Type
FHAAdjust Your Scenario
$31,245
$31,245$89,171
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,752/moAssumable @ 4.98% + gap loan
$3,315/moAssumed loan: $2,869/mo
Gap financing: $445/mo
$438less per month with the assumable
Your Savings on This Property
5325 Trails Edge, Castle Rock · 4.98% FHA vs 6.5% conventional
$438
per month
$5,251
per year
$157,516
over 30 years
$157,515
interest saved
How gap financing works: The equity gap ($89,171) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,245, 5% of purchase price) and a second mortgage for the rest ($57,926 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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