Loan Comparison: 3.67% vs 6.5%
4531 Cedar Glen, Castle Rock, CO 80109 · 4bd/3ba · $699,000
List Price
$699,000
Assumable Rate
3.67%
Remaining Balance
$293,918
Equity Gap
$403,303
Loan Type
VAAdjust Your Scenario
$34,950
$34,950$403,303
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.67% (VA)
Blended Rate: 6.36%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,197/moAssumable @ 3.67% + gap loan
$4,180/moAssumed loan: $1,348/mo
Gap financing: $2,832/mo
$17less per month with the assumable
Your Savings on This Property
4531 Cedar Glen, Castle Rock · 3.67% VA vs 6.5% conventional
$17
per month
$205
per year
$6,141
over 30 years
$4,362
interest saved
How gap financing works: The equity gap ($403,303) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,950, 5% of purchase price) and a second mortgage for the rest ($368,353 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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