Loan Comparison: 3.6% vs 6.5%
1192 Purple Sage, Castle Rock, CO 80104 · 6bd/4ba · $800,000
List Price
$800,000
Assumable Rate
3.6%
Remaining Balance
$329,108
Equity Gap
$470,891
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$470,891
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 6.38%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 3.6% + gap loan
$4,809/moAssumed loan: $1,496/mo
Gap financing: $3,313/mo
Your Savings on This Property
1192 Purple Sage, Castle Rock · 3.6% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($470,891) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($430,891 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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