Loan Comparison: 5.22% vs 6.5%
2688 Loon Circle, Castle Rock, CO 80104 · 4bd/4ba · $599,000
List Price
$599,000
Assumable Rate
5.22%
Remaining Balance
$530,467
Equity Gap
$68,532
Loan Type
VAAdjust Your Scenario
$29,950
$29,950$68,532
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 5.37%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,597/moAssumable @ 5.22% + gap loan
$3,189/moAssumed loan: $2,919/mo
Gap financing: $270/mo
$408less per month with the assumable
Your Savings on This Property
2688 Loon Circle, Castle Rock · 5.22% VA vs 6.5% conventional
$408
per month
$4,891
per year
$146,737
over 30 years
$146,736
interest saved
How gap financing works: The equity gap ($68,532) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,950, 5% of purchase price) and a second mortgage for the rest ($38,582 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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