Loan Comparison: 2.77% vs 6.5%
1500 Nemrick, Castle Rock, CO 80109 · 3bd/3ba · $410,000
List Price
$410,000
Assumable Rate
2.77%
Remaining Balance
$223,877
Equity Gap
$186,123
Loan Type
FHAAdjust Your Scenario
$20,500
$20,500$186,123
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (FHA)
Blended Rate: 5.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,462/moAssumable @ 2.77% + gap loan
$2,190/moAssumed loan: $916/mo
Gap financing: $1,273/mo
$272less per month with the assumable
Your Savings on This Property
1500 Nemrick, Castle Rock · 2.77% FHA vs 6.5% conventional
$272
per month
$3,265
per year
$97,947
over 30 years
$97,947
interest saved
How gap financing works: The equity gap ($186,123) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,500, 5% of purchase price) and a second mortgage for the rest ($165,623 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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