Loan Comparison: 3.51% vs 6.5%
7010 Sagerock, Castle Pines, CO 80108 · 4bd/3ba · $758,000
List Price
$758,000
Assumable Rate
3.51%
Remaining Balance
$634,465
Equity Gap
$121,038
Loan Type
FHAAdjust Your Scenario
$37,900
$37,900$121,038
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.51% (FHA)
Blended Rate: 4.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,552/moAssumable @ 3.51% + gap loan
$3,492/moAssumed loan: $2,853/mo
Gap financing: $639/mo
$1,060less per month with the assumable
Your Savings on This Property
7010 Sagerock, Castle Pines · 3.51% FHA vs 6.5% conventional
$1,060
per month
$12,716
per year
$381,488
over 30 years
$378,991
interest saved
How gap financing works: The equity gap ($121,038) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,900, 5% of purchase price) and a second mortgage for the rest ($83,138 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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