Loan Comparison: 5% vs 6.5%
5358 Trails Edge Lane, Castle Rock, CO 80104 · 3bd/2ba · $600,000
List Price
$600,000
Assumable Rate
5%
Remaining Balance
$545,975
Equity Gap
$54,025
Loan Type
VAAdjust Your Scenario
$30,000
$30,000$54,025
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (VA)
Blended Rate: 5.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,603/moAssumable @ 5% + gap loan
$3,099/moAssumed loan: $2,931/mo
Gap financing: $168/mo
$504less per month with the assumable
Your Savings on This Property
5358 Trails Edge Lane, Castle Rock · 5% VA vs 6.5% conventional
$504
per month
$6,047
per year
$181,400
over 30 years
$181,400
interest saved
How gap financing works: The equity gap ($54,025) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,000, 5% of purchase price) and a second mortgage for the rest ($24,025 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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