Loan Comparison: 2.89% vs 6.5%
5921 Plains End Court, Castle Rock, CO 80104 · 6bd/3ba · $550,000
List Price
$550,000
Assumable Rate
2.89%
Remaining Balance
$393,636
Equity Gap
$156,363
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$156,363
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 2.89% + gap loan
$2,537/moAssumed loan: $1,636/mo
Gap financing: $901/mo
$765less per month with the assumable
Your Savings on This Property
5921 Plains End Court, Castle Rock · 2.89% VA vs 6.5% conventional
$765
per month
$9,182
per year
$275,473
over 30 years
$275,472
interest saved
How gap financing works: The equity gap ($156,363) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($128,863 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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