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
$652,801
Equity Gap
$192,199
Loan Type
VAAdjust Your Scenario
$42,250
$42,250$192,199
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4% (VA)
Blended Rate: 4.84%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,074/moAssumable @ 4% + gap loan
$4,270/moAssumed loan: $3,117/mo
Gap financing: $1,153/mo
$804less per month with the assumable
Your Savings on This Property
7869 Solstice, Castle Rock · 4% VA vs 6.5% conventional
$804
per month
$9,653
per year
$289,575
over 30 years
$289,575
interest saved
How gap financing works: The equity gap ($192,199) 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 ($149,949 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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