Loan Comparison: 3.75% vs 6.5%
8343 Briar Trace Way, Castle Rock, CO 80108 · 4bd/5ba · $759,000
List Price
$759,000
Assumable Rate
3.75%
Remaining Balance
$303,064
Equity Gap
$455,935
Loan Type
VAAdjust Your Scenario
$37,950
$37,950$455,935
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.75% (VA)
Blended Rate: 5.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,558/moAssumable @ 3.75% + gap loan
$4,326/moAssumed loan: $1,404/mo
Gap financing: $2,923/mo
$231less per month with the assumable
Your Savings on This Property
8343 Briar Trace Way, Castle Rock · 3.75% VA vs 6.5% conventional
$231
per month
$2,777
per year
$83,296
over 30 years
$83,295
interest saved
How gap financing works: The equity gap ($455,935) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,950, 5% of purchase price) and a second mortgage for the rest ($417,985 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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