Loan Comparison: 3.62% vs 6.5%
857 Rock Mesa, Castle Rock, CO 80108 · 3bd/3ba · $454,900
List Price
$454,900
Assumable Rate
3.62%
Remaining Balance
$306,522
Equity Gap
$148,377
Loan Type
VAAdjust Your Scenario
$22,745
$22,745$148,377
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.04%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 3.62% + gap loan
$2,363/moAssumed loan: $1,397/mo
Gap financing: $966/mo
$368less per month with the assumable
Your Savings on This Property
857 Rock Mesa, Castle Rock · 3.62% VA vs 6.5% conventional
$368
per month
$4,422
per year
$132,652
over 30 years
$132,651
interest saved
How gap financing works: The equity gap ($148,377) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,745, 5% of purchase price) and a second mortgage for the rest ($125,632 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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