Loan Comparison: 3.6% vs 6.5%
4812 Silverlace Drive, Castle Rock, CO 80109 · 3bd/3ba · $555,000
List Price
$555,000
Assumable Rate
3.6%
Remaining Balance
$173,982
Equity Gap
$381,018
Loan Type
VAAdjust Your Scenario
$27,750
$27,750$381,018
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 6.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,333/moAssumable @ 3.6% + gap loan
$3,261/moAssumed loan: $791/mo
Gap financing: $2,470/mo
$71less per month with the assumable
Your Savings on This Property
4812 Silverlace Drive, Castle Rock · 3.6% VA vs 6.5% conventional
$71
per month
$858
per year
$25,732
over 30 years
$25,732
interest saved
How gap financing works: The equity gap ($381,018) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,750, 5% of purchase price) and a second mortgage for the rest ($353,268 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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