Loan Comparison: 2.99% vs 6.5%
2501 Cutters Circle, Castle Rock, CO 80108 · 3bd/2ba · $374,900
List Price
$374,900
Assumable Rate
2.99%
Remaining Balance
$316,971
Equity Gap
$57,928
Loan Type
VAAdjust Your Scenario
$18,745
$18,745$57,928
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,251/moAssumable @ 2.99% + gap loan
$1,609/moAssumed loan: $1,335/mo
Gap financing: $274/mo
$643less per month with the assumable
Your Savings on This Property
2501 Cutters Circle, Castle Rock · 2.99% VA vs 6.5% conventional
$643
per month
$7,710
per year
$231,305
over 30 years
$231,304
interest saved
How gap financing works: The equity gap ($57,928) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,745, 5% of purchase price) and a second mortgage for the rest ($39,183 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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