Loan Comparison: 3.13% vs 6.5%
6485 Saddlesmith Street, Castle Pines, CO 80108 · 5bd/5ba · $1,075,000
List Price
$1,075,000
Assumable Rate
3.13%
Remaining Balance
$694,708
Equity Gap
$380,292
Loan Type
VAAdjust Your Scenario
$53,750
$53,750$380,292
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,455/moAssumable @ 3.13% + gap loan
$5,261/moAssumed loan: $2,978/mo
Gap financing: $2,283/mo
$1,194less per month with the assumable
Your Savings on This Property
6485 Saddlesmith Street, Castle Pines · 3.13% VA vs 6.5% conventional
$1,194
per month
$14,327
per year
$429,810
over 30 years
$429,810
interest saved
How gap financing works: The equity gap ($380,292) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($53,750, 5% of purchase price) and a second mortgage for the rest ($326,542 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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