Loan Comparison: 2.98% vs 6.5%
3862 Tranquility Trail, Castle Rock, CO 80109 · 3bd/3ba · $435,000
List Price
$435,000
Assumable Rate
2.98%
Remaining Balance
$291,405
Equity Gap
$143,594
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$143,594
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.98% (VA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.98% + gap loan
$2,077/moAssumed loan: $1,225/mo
Gap financing: $852/mo
$535less per month with the assumable
Your Savings on This Property
3862 Tranquility Trail, Castle Rock · 2.98% VA vs 6.5% conventional
$535
per month
$6,416
per year
$192,469
over 30 years
$192,468
interest saved
How gap financing works: The equity gap ($143,594) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($121,844 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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