Loan Comparison: 4% vs 6.5%
7869 Solstice, Castle Rock, CO 80108 · 6bd/5ba · $845,000
List Price
$845,000
Assumable Rate
4%
Remaining Balance
$651,632
Equity Gap
$193,367
Loan Type
VAAdjust Your Scenario
$42,250
$42,250$193,367
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.85%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,074/moAssumable @ 4% + gap loan
$4,273/moAssumed loan: $3,111/mo
Gap financing: $1,162/mo
$801less per month with the assumable
Your Savings on This Property
7869 Solstice, Castle Rock · 4% VA vs 6.5% conventional
$801
per month
$9,612
per year
$288,351
over 30 years
$288,350
interest saved
How gap financing works: The equity gap ($193,367) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,250, 5% of purchase price) and a second mortgage for the rest ($151,117 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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