Loan Comparison: 5.7% vs 6.5%
6686 Solana Drive, Castle Pines, CO 80108 · 4bd/4ba · $820,000
List Price
$820,000
Assumable Rate
5.7%
Remaining Balance
$745,264
Equity Gap
$74,735
Loan Type
VAAdjust Your Scenario
$41,000
$41,000$74,735
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 5.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,924/moAssumable @ 5.7% + gap loan
$4,561/moAssumed loan: $4,326/mo
Gap financing: $236/mo
$362less per month with the assumable
Your Savings on This Property
6686 Solana Drive, Castle Pines · 5.7% VA vs 6.5% conventional
$362
per month
$4,349
per year
$130,469
over 30 years
$130,468
interest saved
How gap financing works: The equity gap ($74,735) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($41,000, 5% of purchase price) and a second mortgage for the rest ($33,735 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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