Loan Comparison: 3.61% vs 6.5%
1390 Whitetail, Castle Rock, CO 80104 · 5bd/4ba · $779,900
List Price
$779,900
Assumable Rate
3.61%
Remaining Balance
$364,063
Equity Gap
$456,942
Loan Type
FHAAdjust Your Scenario
$38,995
$38,995$456,942
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.61% (FHA)
Blended Rate: 6.22%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,683/moAssumable @ 3.61% + gap loan
$4,871/moAssumed loan: $1,657/mo
Gap financing: $3,214/mo
Your Savings on This Property
1390 Whitetail, Castle Rock · 3.61% 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 ($456,942) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,995, 5% of purchase price) and a second mortgage for the rest ($417,947 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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