Loan Comparison: 4.14% vs 6.5%
2586 Meadows, Castle Rock, CO 80109 · 2bd/3ba · $450,000
List Price
$450,000
Assumable Rate
4.14%
Remaining Balance
$296,681
Equity Gap
$153,961
Loan Type
FHAAdjust Your Scenario
$22,500
$22,500$153,961
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.14% (FHA)
Blended Rate: 5.48%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,702/moAssumable @ 4.14% + gap loan
$2,451/moAssumed loan: $1,440/mo
Gap financing: $1,011/mo
$251less per month with the assumable
Your Savings on This Property
2586 Meadows, Castle Rock · 4.14% FHA vs 6.5% conventional
$251
per month
$3,010
per year
$90,295
over 30 years
$90,937
interest saved
How gap financing works: The equity gap ($153,961) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,500, 5% of purchase price) and a second mortgage for the rest ($131,461 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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