Loan Comparison: 4.87% vs 6.5%
6911 Turnstone, Castle Rock, CO 80104 · 4bd/4ba · $619,990
List Price
$619,990
Assumable Rate
4.87%
Remaining Balance
$334,548
Equity Gap
$285,441
Loan Type
FHAAdjust Your Scenario
$31,000
$31,000$285,441
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.87% (FHA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,723/moAssumable @ 4.87% + gap loan
$3,726/moAssumed loan: $1,769/mo
Gap financing: $1,956/mo
Your Savings on This Property
6911 Turnstone, Castle Rock · 4.87% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($285,441) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,000, 5% of purchase price) and a second mortgage for the rest ($254,441 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.
🏠
Back to This Listing
View photos, details, and request a showing for 6911 Turnstone.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.