Loan Comparison: 6.16% vs 6.5%
347 Silver Cloud Place, Castle Rock, CO 80108 · 2bd/2ba · $1,895,000
List Price
$1,895,000
Assumable Rate
6.16%
Remaining Balance
$1,287,469
Equity Gap
$607,531
Loan Type
VAAdjust Your Scenario
$94,750
$94,750$607,531
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.16% (VA)
Blended Rate: 6.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$11,379/moAssumable @ 6.16% + gap loan
$11,437/moAssumed loan: $7,852/mo
Gap financing: $3,585/mo
Your Savings on This Property
347 Silver Cloud Place, Castle Rock · 6.16% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($607,531) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($94,750, 5% of purchase price) and a second mortgage for the rest ($512,781 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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