Loan Comparison: 2.31% vs 6.5%
4021 Trail Stone, Castle Rock, CO 80108 · 4bd/3ba · $640,000
List Price
$640,000
Assumable Rate
2.31%
Remaining Balance
$521,593
Equity Gap
$360,691
Loan Type
FHAAdjust Your Scenario
$32,000
$32,000$360,691
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.31% (FHA)
Blended Rate: 4.70%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,843/moAssumable @ 2.31% + gap loan
$4,537/moAssumed loan: $2,010/mo
Gap financing: $2,527/mo
Your Savings on This Property
4021 Trail Stone, Castle Rock · 2.31% FHA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($360,691) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,000, 5% of purchase price) and a second mortgage for the rest ($328,691 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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