Loan Comparison: 4.75% vs 6.5%
2812 Keepsake, Castle Rock, CO 80109 · 5bd/5ba · $999,999
List Price
$999,999
Assumable Rate
4.75%
Remaining Balance
$811,414
Equity Gap
$188,585
Loan Type
VAAdjust Your Scenario
$50,000
$50,000$188,585
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.75% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,005/moAssumable @ 4.75% + gap loan
$5,298/moAssumed loan: $4,233/mo
Gap financing: $1,066/mo
$706less per month with the assumable
Your Savings on This Property
2812 Keepsake, Castle Rock · 4.75% VA vs 6.5% conventional
$706
per month
$8,476
per year
$254,276
over 30 years
$254,276
interest saved
How gap financing works: The equity gap ($188,585) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($50,000, 5% of purchase price) and a second mortgage for the rest ($138,585 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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