Loan Comparison: 2.89% vs 6.5%
3197 Cool Meadow, Castle Rock, CO 80104 · 5bd/5ba · $774,900
List Price
$774,900
Assumable Rate
2.89%
Remaining Balance
$520,975
Equity Gap
$253,924
Loan Type
VAAdjust Your Scenario
$38,745
$38,745$253,924
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.53%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,653/moAssumable @ 2.89% + gap loan
$3,820/moAssumed loan: $2,166/mo
Gap financing: $1,655/mo
$833less per month with the assumable
Your Savings on This Property
3197 Cool Meadow, Castle Rock · 2.89% VA vs 6.5% conventional
$833
per month
$9,994
per year
$299,806
over 30 years
$299,805
interest saved
How gap financing works: The equity gap ($253,924) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($38,745, 5% of purchase price) and a second mortgage for the rest ($215,179 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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