Loan Comparison: 3.3% vs 6.5%
36 Clare Court, Castle Pines, CO 80109 · 4bd/3ba · $850,000
List Price
$850,000
Assumable Rate
3.3%
Remaining Balance
$234,457
Equity Gap
$615,542
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$615,542
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.3% (VA)
Blended Rate: 6.28%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 3.3% + gap loan
$5,034/moAssumed loan: $1,027/mo
Gap financing: $4,007/mo
$70less per month with the assumable
Your Savings on This Property
36 Clare Court, Castle Pines · 3.3% VA vs 6.5% conventional
$70
per month
$844
per year
$25,322
over 30 years
$25,321
interest saved
How gap financing works: The equity gap ($615,542) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($573,042 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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