Loan Comparison: 6.09% vs 6.5%
7590 Iridium Court, Castle Rock, CO 80109 · 5bd/5ba · $1,050,000
List Price
$1,050,000
Assumable Rate
6.09%
Remaining Balance
$685,984
Equity Gap
$364,015
Loan Type
VAAdjust Your Scenario
$52,500
$52,500$364,015
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.09% (VA)
Blended Rate: 6.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,305/moAssumable @ 6.09% + gap loan
$6,331/moAssumed loan: $4,153/mo
Gap financing: $2,178/mo
Your Savings on This Property
7590 Iridium Court, Castle Rock · 6.09% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($364,015) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($52,500, 5% of purchase price) and a second mortgage for the rest ($311,515 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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