Loan Comparison: 2.89% vs 6.5%
1563 Baguette, Castle Rock, CO 80108 · 6bd/5ba · $895,000
List Price
$895,000
Assumable Rate
2.89%
Remaining Balance
$467,026
Equity Gap
$427,974
Loan Type
VAAdjust Your Scenario
$44,750
$44,750$427,974
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 5.42%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,374/moAssumable @ 2.89% + gap loan
$4,888/moAssumed loan: $1,941/mo
Gap financing: $2,947/mo
$486less per month with the assumable
Your Savings on This Property
1563 Baguette, Castle Rock · 2.89% VA vs 6.5% conventional
$486
per month
$5,833
per year
$174,994
over 30 years
$174,994
interest saved
How gap financing works: The equity gap ($427,974) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($44,750, 5% of purchase price) and a second mortgage for the rest ($383,224 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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