Loan Comparison: 3.82% vs 6.5%
1172 Basalt Ridge, Castle Rock, CO 80108 · 3bd/3ba · $630,000
List Price
$630,000
Assumable Rate
3.82%
Remaining Balance
$394,150
Equity Gap
$252,253
Loan Type
FHAAdjust Your Scenario
$31,500
$31,500$252,253
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.82% (FHA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,783/moAssumable @ 3.82% + gap loan
$3,538/moAssumed loan: $1,841/mo
Gap financing: $1,697/mo
$244less per month with the assumable
Your Savings on This Property
1172 Basalt Ridge, Castle Rock · 3.82% FHA vs 6.5% conventional
$244
per month
$2,934
per year
$88,008
over 30 years
$104,411
interest saved
How gap financing works: The equity gap ($252,253) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,500, 5% of purchase price) and a second mortgage for the rest ($220,753 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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