Loan Comparison: 3.07% vs 6.5%
5484 Blue Lunar, Castle Rock, CO 80104 · 3bd/3ba · $550,000
List Price
$550,000
Assumable Rate
3.07%
Remaining Balance
$450,809
Equity Gap
$99,190
Loan Type
FHAAdjust Your Scenario
$27,500
$27,500$99,190
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (FHA)
Blended Rate: 3.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 3.07% + gap loan
$2,469/moAssumed loan: $1,918/mo
Gap financing: $551/mo
$834less per month with the assumable
Your Savings on This Property
5484 Blue Lunar, Castle Rock · 3.07% FHA vs 6.5% conventional
$834
per month
$10,004
per year
$300,107
over 30 years
$300,106
interest saved
How gap financing works: The equity gap ($99,190) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($71,690 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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