Loan Comparison: 3.02% vs 6.5%
4664 Nutmeg Place, Castle Rock, CO 80109 · 6bd/6ba · $859,000
List Price
$859,000
Assumable Rate
3.02%
Remaining Balance
$421,309
Equity Gap
$437,691
Loan Type
VAAdjust Your Scenario
$42,950
$42,950$437,691
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,158/moAssumable @ 3.02% + gap loan
$4,541/moAssumed loan: $1,781/mo
Gap financing: $2,760/mo
$617less per month with the assumable
Your Savings on This Property
4664 Nutmeg Place, Castle Rock · 3.02% VA vs 6.5% conventional
$617
per month
$7,405
per year
$222,156
over 30 years
$222,156
interest saved
How gap financing works: The equity gap ($437,691) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,950, 5% of purchase price) and a second mortgage for the rest ($394,741 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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