Loan Comparison: 3.04% vs 6.5%
47 Back Nine Drive, Castle Pines, CO 80108 · 6bd/4ba · $885,000
List Price
$885,000
Assumable Rate
3.04%
Remaining Balance
$478,249
Equity Gap
$406,751
Loan Type
VAAdjust Your Scenario
$44,250
$44,250$406,751
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.04% (VA)
Blended Rate: 4.96%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,314/moAssumable @ 3.04% + gap loan
$4,561/moAssumed loan: $2,027/mo
Gap financing: $2,535/mo
$753less per month with the assumable
Your Savings on This Property
47 Back Nine Drive, Castle Pines · 3.04% VA vs 6.5% conventional
$753
per month
$9,034
per year
$271,009
over 30 years
$271,009
interest saved
How gap financing works: The equity gap ($406,751) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,250, 5% of purchase price) and a second mortgage for the rest ($362,501 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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