Loan Comparison: 4.99% vs 6.5%
5061 Vermillion, Castle Rock, CO 80108 · 4bd/5ba · $1,569,000
List Price
$1,569,000
Assumable Rate
4.99%
Remaining Balance
$1,245,493
Equity Gap
$323,507
Loan Type
VAAdjust Your Scenario
$78,450
$78,450$323,507
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.57%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,421/moAssumable @ 4.99% + gap loan
$8,563/moAssumed loan: $6,678/mo
Gap financing: $1,884/mo
$859less per month with the assumable
Your Savings on This Property
5061 Vermillion, Castle Rock · 4.99% VA vs 6.5% conventional
$859
per month
$10,303
per year
$309,077
over 30 years
$309,077
interest saved
How gap financing works: The equity gap ($323,507) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($78,450, 5% of purchase price) and a second mortgage for the rest ($245,057 at 8.5%). 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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