Loan Comparison: 3.5% vs 6.5%
4270 Deer Watch, Castle Rock, CO 80104 · 3bd/3ba · $624,900
List Price
$624,900
Assumable Rate
3.5%
Remaining Balance
$157,005
Equity Gap
$467,310
Loan Type
FHAAdjust Your Scenario
$31,245
$31,245$467,310
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (FHA)
Blended Rate: 7.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,752/moAssumable @ 3.5% + gap loan
$4,058/moAssumed loan: $705/mo
Gap financing: $3,353/mo
Your Savings on This Property
4270 Deer Watch, Castle Rock · 3.5% 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 ($467,310) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,245, 5% of purchase price) and a second mortgage for the rest ($436,065 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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