Loan Comparison: 4.17% vs 6.5%
5374 Trails Edge, Castle Rock, CO 80104 · 3bd/2ba · $595,000
List Price
$595,000
Assumable Rate
4.17%
Remaining Balance
$512,751
Equity Gap
$82,249
Loan Type
FHAAdjust Your Scenario
$29,750
$29,750$82,249
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (FHA)
Blended Rate: 4.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,573/moAssumable @ 4.17% + gap loan
$2,902/moAssumed loan: $2,498/mo
Gap financing: $404/mo
$671less per month with the assumable
Your Savings on This Property
5374 Trails Edge, Castle Rock · 4.17% FHA vs 6.5% conventional
$671
per month
$8,047
per year
$241,424
over 30 years
$241,424
interest saved
How gap financing works: The equity gap ($82,249) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,750, 5% of purchase price) and a second mortgage for the rest ($52,499 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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