Loan Comparison: 6.35% vs 6.5%
6850 Oak Canyon Circle, Castle Pines, CO 80104 · 4bd/2ba · $815,000
List Price
$815,000
Assumable Rate
6.35%
Remaining Balance
$712,848
Equity Gap
$102,152
Loan Type
VAAdjust Your Scenario
$40,750
$40,750$102,152
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.35% (VA)
Blended Rate: 6.44%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,894/moAssumable @ 6.35% + gap loan
$4,865/moAssumed loan: $4,436/mo
Gap financing: $429/mo
$29less per month with the assumable
Your Savings on This Property
6850 Oak Canyon Circle, Castle Pines · 6.35% VA vs 6.5% conventional
$29
per month
$346
per year
$10,390
over 30 years
$10,390
interest saved
How gap financing works: The equity gap ($102,152) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,750, 5% of purchase price) and a second mortgage for the rest ($61,402 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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