Loan Comparison: 5.23% vs 6.5%
3583 Brushwood, Castle Rock, CO 80109 · 3bd/3ba · $610,000
List Price
$610,000
Assumable Rate
5.23%
Remaining Balance
$546,045
Equity Gap
$63,143
Loan Type
FHAAdjust Your Scenario
$30,500
$30,500$63,143
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (FHA)
Blended Rate: 5.41%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 5.23% + gap loan
$3,260/moAssumed loan: $3,009/mo
Gap financing: $251/mo
$403less per month with the assumable
Your Savings on This Property
3583 Brushwood, Castle Rock · 5.23% FHA vs 6.5% conventional
$403
per month
$4,840
per year
$145,194
over 30 years
$144,382
interest saved
How gap financing works: The equity gap ($63,143) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($32,643 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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