Loan Comparison: 2.99% vs 6.5%
2825 Merry Rest Way, Castle Rock, CO 80109 · 6bd/4ba · $565,000
List Price
$565,000
Assumable Rate
2.99%
Remaining Balance
$525,249
Equity Gap
$39,751
Loan Type
VAAdjust Your Scenario
$28,250
$28,250$39,751
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,393/moAssumable @ 2.99% + gap loan
$2,292/moAssumed loan: $2,212/mo
Gap financing: $80/mo
$1,101less per month with the assumable
Your Savings on This Property
2825 Merry Rest Way, Castle Rock · 2.99% VA vs 6.5% conventional
$1,101
per month
$13,207
per year
$396,205
over 30 years
$396,205
interest saved
How gap financing works: The equity gap ($39,751) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,250, 5% of purchase price) and a second mortgage for the rest ($11,501 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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