Loan Comparison: 4.98% vs 6.5%
465 Silver Rock, Castle Rock, CO 80104 · 3bd/3ba · $610,000
List Price
$610,000
Assumable Rate
4.98%
Remaining Balance
$525,022
Equity Gap
$84,978
Loan Type
FHAAdjust Your Scenario
$30,500
$30,500$84,978
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.98% (FHA)
Blended Rate: 5.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 4.98% + gap loan
$3,231/moAssumed loan: $2,812/mo
Gap financing: $419/mo
$432less per month with the assumable
Your Savings on This Property
465 Silver Rock, Castle Rock · 4.98% FHA vs 6.5% conventional
$432
per month
$5,183
per year
$155,494
over 30 years
$155,494
interest saved
How gap financing works: The equity gap ($84,978) 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 ($54,478 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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