Loan Comparison: 3.76% vs 6.5%
119 Pembrook, Castle Rock, CO 80104 · 3bd/1ba · $465,000
List Price
$465,000
Assumable Rate
3.76%
Remaining Balance
$386,318
Equity Gap
$78,681
Loan Type
FHAAdjust Your Scenario
$23,250
$23,250$78,681
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,792/moAssumable @ 3.76% + gap loan
$2,218/moAssumed loan: $1,791/mo
Gap financing: $426/mo
$575less per month with the assumable
Your Savings on This Property
119 Pembrook, Castle Rock · 3.76% FHA vs 6.5% conventional
$575
per month
$6,896
per year
$206,875
over 30 years
$206,874
interest saved
How gap financing works: The equity gap ($78,681) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($23,250, 5% of purchase price) and a second mortgage for the rest ($55,431 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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