Loan Comparison: 3.13% vs 6.5%
6074 Sun Mesa Circle, Castle Rock, CO 80104 · 5bd/6ba · $564,000
List Price
$564,000
Assumable Rate
3.13%
Remaining Balance
$348,926
Equity Gap
$215,073
Loan Type
VAAdjust Your Scenario
$28,200
$28,200$215,073
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 4.65%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,387/moAssumable @ 3.13% + gap loan
$2,802/moAssumed loan: $1,496/mo
Gap financing: $1,307/mo
$584less per month with the assumable
Your Savings on This Property
6074 Sun Mesa Circle, Castle Rock · 3.13% VA vs 6.5% conventional
$584
per month
$7,012
per year
$210,353
over 30 years
$210,352
interest saved
How gap financing works: The equity gap ($215,073) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,200, 5% of purchase price) and a second mortgage for the rest ($186,873 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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