Loan Comparison: 3.45% vs 6.5%
3585 Swabuck Place, Castle Rock, CO 80135 · 3bd/2ba · $599,900
List Price
$599,900
Assumable Rate
3.45%
Remaining Balance
$411,491
Equity Gap
$188,409
Loan Type
VAAdjust Your Scenario
$29,995
$29,995$188,409
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.45% (VA)
Blended Rate: 4.58%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,602/moAssumable @ 3.45% + gap loan
$2,944/moAssumed loan: $1,836/mo
Gap financing: $1,108/mo
$658less per month with the assumable
Your Savings on This Property
3585 Swabuck Place, Castle Rock · 3.45% VA vs 6.5% conventional
$658
per month
$7,899
per year
$236,960
over 30 years
$236,960
interest saved
How gap financing works: The equity gap ($188,409) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,995, 5% of purchase price) and a second mortgage for the rest ($158,414 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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