Loan Comparison: 6.5% vs 6.5%
2955 Night Song Way, Castle Rock, CO 80109 · 5bd/4ba · $670,000
List Price
$670,000
Assumable Rate
6.5%
Remaining Balance
$604,957
Equity Gap
$65,043
Loan Type
VAAdjust Your Scenario
$33,500
$33,500$65,043
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.5% (VA)
Blended Rate: 6.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,023/moAssumable @ 6.5% + gap loan
$4,044/moAssumed loan: $3,824/mo
Gap financing: $221/mo
Your Savings on This Property
2955 Night Song Way, Castle Rock · 6.5% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($65,043) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($33,500, 5% of purchase price) and a second mortgage for the rest ($31,543 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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