Loan Comparison: 3.02% vs 6.5%
2158 Paint Pony, Castle Rock, CO 80108 · 4bd/4ba · $700,000
List Price
$700,000
Assumable Rate
3.02%
Remaining Balance
$402,890
Equity Gap
$296,189
Loan Type
VAAdjust Your Scenario
$35,000
$35,000$296,189
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.02% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.02% + gap loan
$3,711/moAssumed loan: $1,703/mo
Gap financing: $2,008/mo
$492less per month with the assumable
Your Savings on This Property
2158 Paint Pony, Castle Rock · 3.02% VA vs 6.5% conventional
$492
per month
$5,904
per year
$177,115
over 30 years
$176,194
interest saved
How gap financing works: The equity gap ($296,189) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,000, 5% of purchase price) and a second mortgage for the rest ($261,189 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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