Loan Comparison: 2.875% vs 6.5%
7514 Blue Water, Castle Rock, CO 80108 · 6bd/4ba · $725,000
List Price
$725,000
Assumable Rate
2.875%
Remaining Balance
$545,996
Equity Gap
$176,589
Loan Type
FHAAdjust Your Scenario
$36,250
$36,250$176,589
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.875% (FHA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,353/moAssumable @ 2.875% + gap loan
$3,344/moAssumed loan: $2,265/mo
Gap financing: $1,079/mo
$1,009less per month with the assumable
Your Savings on This Property
7514 Blue Water, Castle Rock · 2.875% FHA vs 6.5% conventional
$1,009
per month
$12,108
per year
$363,235
over 30 years
$360,820
interest saved
How gap financing works: The equity gap ($176,589) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,250, 5% of purchase price) and a second mortgage for the rest ($140,339 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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