Loan Comparison: 4% vs 6.5%
5276 Howe Street, Castle Rock, CO 80109 · 3bd/3ba · $530,000
List Price
$530,000
Assumable Rate
4%
Remaining Balance
$432,422
Equity Gap
$97,578
Loan Type
VAAdjust Your Scenario
$26,500
$26,500$97,578
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.49%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,182/moAssumable @ 4% + gap loan
$2,561/moAssumed loan: $2,064/mo
Gap financing: $497/mo
$621less per month with the assumable
Your Savings on This Property
5276 Howe Street, Castle Rock · 4% VA vs 6.5% conventional
$621
per month
$7,452
per year
$223,569
over 30 years
$223,569
interest saved
How gap financing works: The equity gap ($97,578) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,500, 5% of purchase price) and a second mortgage for the rest ($71,078 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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