Loan Comparison: 2.74% vs 6.5%
4504 Rapport, Castle Rock, CO 80104 · 3bd/3ba · $639,900
List Price
$639,900
Assumable Rate
2.74%
Remaining Balance
$405,560
Equity Gap
$249,025
Loan Type
FHAAdjust Your Scenario
$31,995
$31,995$249,025
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (FHA)
Blended Rate: 4.75%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,842/moAssumable @ 2.74% + gap loan
$3,322/moAssumed loan: $1,654/mo
Gap financing: $1,669/mo
$520less per month with the assumable
Your Savings on This Property
4504 Rapport, Castle Rock · 2.74% FHA vs 6.5% conventional
$520
per month
$6,241
per year
$187,230
over 30 years
$201,915
interest saved
How gap financing works: The equity gap ($249,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,995, 5% of purchase price) and a second mortgage for the rest ($217,030 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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