Loan Comparison: 4.17% vs 6.5%
4647 Gray Wolf, Castle Rock, CO 80104 · 4bd/3ba · $740,000
List Price
$740,000
Assumable Rate
4.17%
Remaining Balance
$552,014
Equity Gap
$184,108
Loan Type
VAAdjust Your Scenario
$37,000
$37,000$184,108
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.17% (VA)
Blended Rate: 5.08%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,443/moAssumable @ 4.17% + gap loan
$3,821/moAssumed loan: $2,690/mo
Gap financing: $1,131/mo
$623less per month with the assumable
Your Savings on This Property
4647 Gray Wolf, Castle Rock · 4.17% VA vs 6.5% conventional
$623
per month
$7,470
per year
$224,107
over 30 years
$220,229
interest saved
How gap financing works: The equity gap ($184,108) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($37,000, 5% of purchase price) and a second mortgage for the rest ($147,108 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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