Loan Comparison: 4.67% vs 6.5%
4647 Gray Wolf Lane, Castle Rock, CO 80104 · 2bd/3ba · $700,000
List Price
$700,000
Assumable Rate
4.67%
Remaining Balance
$552,553
Equity Gap
$147,446
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$147,446
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.67% (VA)
Blended Rate: 5.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 4.67% + gap loan
$3,642/moAssumed loan: $2,856/mo
Gap financing: $786/mo
$561less per month with the assumable
Your Savings on This Property
4647 Gray Wolf Lane, Castle Rock · 4.67% VA vs 6.5% conventional
$561
per month
$6,735
per year
$202,039
over 30 years
$202,038
interest saved
How gap financing works: The equity gap ($147,446) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($112,446 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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