Loan Comparison: 3.1% vs 6.5%
3797 Windriver, Castle Rock, CO 80109 · 3bd/3ba · $445,500
List Price
$445,500
Assumable Rate
3.1%
Remaining Balance
$267,103
Equity Gap
$178,396
Loan Type
VAAdjust Your Scenario
$22,275
$22,275$178,396
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.1% (VA)
Blended Rate: 5.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,675/moAssumable @ 3.1% + gap loan
$2,341/moAssumed loan: $1,141/mo
Gap financing: $1,200/mo
$334less per month with the assumable
Your Savings on This Property
3797 Windriver, Castle Rock · 3.1% VA vs 6.5% conventional
$334
per month
$4,009
per year
$120,262
over 30 years
$120,261
interest saved
How gap financing works: The equity gap ($178,396) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,275, 5% of purchase price) and a second mortgage for the rest ($156,121 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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