Loan Comparison: 3.16% vs 6.5%
4807 Bearlily, Castle Rock, CO 80109 · 3bd/3ba · $525,000
List Price
$525,000
Assumable Rate
3.16%
Remaining Balance
$354,863
Equity Gap
$183,934
Loan Type
FHAAdjust Your Scenario
$26,250
$26,250$183,934
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (FHA)
Blended Rate: 4.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 3.16% + gap loan
$2,739/moAssumed loan: $1,527/mo
Gap financing: $1,212/mo
$413less per month with the assumable
Your Savings on This Property
4807 Bearlily, Castle Rock · 3.16% FHA vs 6.5% conventional
$413
per month
$4,957
per year
$148,707
over 30 years
$162,504
interest saved
How gap financing works: The equity gap ($183,934) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($157,684 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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