Loan Comparison: 3.1% vs 6.5%
1469 Nemrick Place, Castle Rock, CO 80104 · 3bd/3ba · $400,000
List Price
$400,000
Assumable Rate
3.1%
Remaining Balance
$292,645
Equity Gap
$107,355
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$107,355
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 4.11%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 3.1% + gap loan
$1,860/moAssumed loan: $1,250/mo
Gap financing: $611/mo
$541less per month with the assumable
Your Savings on This Property
1469 Nemrick Place, Castle Rock · 3.1% VA vs 6.5% conventional
$541
per month
$6,497
per year
$194,910
over 30 years
$194,910
interest saved
How gap financing works: The equity gap ($107,355) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($87,355 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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