Loan Comparison: 4.98% vs 6.5%
5325 Trails Edge, Castle Rock, CO 80104 · 3bd/2ba · $599,998
List Price
$599,998
Assumable Rate
4.98%
Remaining Balance
$534,900
Equity Gap
$64,269
Loan Type
FHAAdjust Your Scenario
$30,000
$30,000$64,269
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 4.98% + gap loan
$3,128/moAssumed loan: $2,865/mo
Gap financing: $263/mo
$474less per month with the assumable
Your Savings on This Property
5325 Trails Edge, Castle Rock · 4.98% FHA vs 6.5% conventional
$474
per month
$5,692
per year
$170,767
over 30 years
$169,938
interest saved
How gap financing works: The equity gap ($64,269) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($34,269 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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