Loan Comparison: 3.34% vs 6.5%
3104 Ramshorn Drive, Castle Rock, CO 80108 · 5bd/5ba · $1,250,000
List Price
$1,250,000
Assumable Rate
3.34%
Remaining Balance
$573,140
Equity Gap
$676,859
Loan Type
VAAdjust Your Scenario
$62,500
$62,500$676,859
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.34% (VA)
Blended Rate: 5.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,506/moAssumable @ 3.34% + gap loan
$6,818/moAssumed loan: $2,523/mo
Gap financing: $4,296/mo
$687less per month with the assumable
Your Savings on This Property
3104 Ramshorn Drive, Castle Rock · 3.34% VA vs 6.5% conventional
$687
per month
$8,249
per year
$247,457
over 30 years
$247,456
interest saved
How gap financing works: The equity gap ($676,859) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($62,500, 5% of purchase price) and a second mortgage for the rest ($614,359 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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