Loan Comparison: 3.76% vs 6.5%
754 Blue Teal, Castle Rock, CO 80104 · 3bd/3ba · $599,000
List Price
$599,000
Assumable Rate
3.76%
Remaining Balance
$528,188
Equity Gap
$71,817
Loan Type
FHAAdjust Your Scenario
$29,950
$29,950$71,817
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.76% (FHA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 3.76% + gap loan
$2,771/moAssumed loan: $2,449/mo
Gap financing: $322/mo
$826less per month with the assumable
Your Savings on This Property
754 Blue Teal, Castle Rock · 3.76% FHA vs 6.5% conventional
$826
per month
$9,909
per year
$297,267
over 30 years
$298,272
interest saved
How gap financing works: The equity gap ($71,817) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($41,867 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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