Loan Comparison: 2.8% vs 6.5%
6942 Esperanza Drive, Castle Pines, CO 80108 · 5bd/5ba · $1,175,000
List Price
$1,175,000
Assumable Rate
2.8%
Remaining Balance
$457,561
Equity Gap
$717,439
Loan Type
VAAdjust Your Scenario
$58,750
$58,750$717,439
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.8% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,055/moAssumable @ 2.8% + gap loan
$6,486/moAssumed loan: $1,880/mo
Gap financing: $4,606/mo
$570less per month with the assumable
Your Savings on This Property
6942 Esperanza Drive, Castle Pines · 2.8% VA vs 6.5% conventional
$570
per month
$6,837
per year
$205,098
over 30 years
$205,098
interest saved
How gap financing works: The equity gap ($717,439) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($58,750, 5% of purchase price) and a second mortgage for the rest ($658,689 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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