Loan Comparison: 3.5% vs 6.5%
2627 Hillcroft Lane, Castle Rock, CO 80104 · 4bd/3ba · $945,000
List Price
$945,000
Assumable Rate
3.5%
Remaining Balance
$626,522
Equity Gap
$318,477
Loan Type
VAAdjust Your Scenario
$47,250
$47,250$318,477
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.5% (VA)
Blended Rate: 4.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,674/moAssumable @ 3.5% + gap loan
$4,710/moAssumed loan: $2,813/mo
Gap financing: $1,896/mo
$965less per month with the assumable
Your Savings on This Property
2627 Hillcroft Lane, Castle Rock · 3.5% VA vs 6.5% conventional
$965
per month
$11,575
per year
$347,245
over 30 years
$347,244
interest saved
How gap financing works: The equity gap ($318,477) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($47,250, 5% of purchase price) and a second mortgage for the rest ($271,227 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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