Loan Comparison: 2.9% vs 6.5%
3927 Nordland Trail, Castle Rock, CO 80109 · 4bd/4ba · $435,000
List Price
$435,000
Assumable Rate
2.9%
Remaining Balance
$292,657
Equity Gap
$142,343
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$142,343
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.24%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.9% + gap loan
$2,061/moAssumed loan: $1,218/mo
Gap financing: $843/mo
$551less per month with the assumable
Your Savings on This Property
3927 Nordland Trail, Castle Rock · 2.9% VA vs 6.5% conventional
$551
per month
$6,608
per year
$198,249
over 30 years
$198,249
interest saved
How gap financing works: The equity gap ($142,343) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($120,593 at 7.5%). 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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