Loan Comparison: 3.16% vs 6.5%
5823 Plains End Court, Castle Rock, CO 80104 · 3bd/3ba · $560,000
List Price
$560,000
Assumable Rate
3.16%
Remaining Balance
$403,732
Equity Gap
$156,267
Loan Type
VAAdjust Your Scenario
$28,000
$28,000$156,267
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.16% (VA)
Blended Rate: 4.21%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 3.16% + gap loan
$2,634/moAssumed loan: $1,737/mo
Gap financing: $897/mo
$729less per month with the assumable
Your Savings on This Property
5823 Plains End Court, Castle Rock · 3.16% VA vs 6.5% conventional
$729
per month
$8,743
per year
$262,279
over 30 years
$262,278
interest saved
How gap financing works: The equity gap ($156,267) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($128,267 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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