Loan Comparison: 4.99% vs 6.5%
6293 Ellingwood Point, Castle Rock, CO 80108 · 4bd/4ba · $1,595,000
List Price
$1,595,000
Assumable Rate
4.99%
Remaining Balance
$1,379,528
Equity Gap
$207,189
Loan Type
VAAdjust Your Scenario
$79,750
$79,750$207,189
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.99% (VA)
Blended Rate: 5.29%
Monthly Payment Comparison
New Conventional @ 6.5%
$9,577/moAssumable @ 4.99% + gap loan
$8,377/moAssumed loan: $7,397/mo
Gap financing: $980/mo
$1,200less per month with the assumable
Your Savings on This Property
6293 Ellingwood Point, Castle Rock · 4.99% VA vs 6.5% conventional
$1,200
per month
$14,404
per year
$432,122
over 30 years
$423,839
interest saved
How gap financing works: The equity gap ($207,189) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($79,750, 5% of purchase price) and a second mortgage for the rest ($127,439 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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