Loan Comparison: 5.23% vs 6.5%
1335 Galactic, Castle Rock, CO 80108 · 4bd/4ba · $730,000
List Price
$730,000
Assumable Rate
5.23%
Remaining Balance
$565,738
Equity Gap
$164,261
Loan Type
VAAdjust Your Scenario
$36,500
$36,500$164,261
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.23% (VA)
Blended Rate: 5.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,383/moAssumable @ 5.23% + gap loan
$4,099/moAssumed loan: $3,117/mo
Gap financing: $982/mo
$284less per month with the assumable
Your Savings on This Property
1335 Galactic, Castle Rock · 5.23% VA vs 6.5% conventional
$284
per month
$3,408
per year
$102,239
over 30 years
$102,238
interest saved
How gap financing works: The equity gap ($164,261) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,500, 5% of purchase price) and a second mortgage for the rest ($127,761 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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