Loan Comparison: 3.6% vs 6.5%
1192 Purple Sage, Castle Rock, CO 80104 · 6bd/4ba · $775,000
List Price
$775,000
Assumable Rate
3.6%
Remaining Balance
$328,202
Equity Gap
$444,087
Loan Type
VAAdjust Your Scenario
$38,750
$38,750$444,087
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 6.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,654/moAssumable @ 3.6% + gap loan
$4,609/moAssumed loan: $1,492/mo
Gap financing: $3,117/mo
$45less per month with the assumable
Your Savings on This Property
1192 Purple Sage, Castle Rock · 3.6% VA vs 6.5% conventional
$45
per month
$537
per year
$16,112
over 30 years
$13,401
interest saved
How gap financing works: The equity gap ($444,087) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,750, 5% of purchase price) and a second mortgage for the rest ($405,337 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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