Loan Comparison: 3.47% vs 6.5%
4205 Morning Star Drive, Castle Rock, CO 80108 · 4bd/3ba · $1,099,999
List Price
$1,099,999
Assumable Rate
3.47%
Remaining Balance
$440,870
Equity Gap
$659,128
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$659,128
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 5.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 3.47% + gap loan
$6,196/moAssumed loan: $1,972/mo
Gap financing: $4,224/mo
$409less per month with the assumable
Your Savings on This Property
4205 Morning Star Drive, Castle Rock · 3.47% VA vs 6.5% conventional
$409
per month
$4,904
per year
$147,106
over 30 years
$147,104
interest saved
How gap financing works: The equity gap ($659,128) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($604,128 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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