Loan Comparison: 5% vs 6.5%
538 Sage Grouse, Castle Rock, CO 80109 · 4bd/4ba · $789,000
List Price
$789,000
Assumable Rate
5%
Remaining Balance
$682,809
Equity Gap
$104,088
Loan Type
VAAdjust Your Scenario
$39,450
$39,450$104,088
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5% (VA)
Blended Rate: 5.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,738/moAssumable @ 5% + gap loan
$4,162/moAssumed loan: $3,665/mo
Gap financing: $497/mo
$575less per month with the assumable
Your Savings on This Property
538 Sage Grouse, Castle Rock · 5% VA vs 6.5% conventional
$575
per month
$6,902
per year
$207,068
over 30 years
$204,965
interest saved
How gap financing works: The equity gap ($104,088) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($39,450, 5% of purchase price) and a second mortgage for the rest ($64,638 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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