Loan Comparison: 5.22% vs 6.5%
2103 Trail Stone, Castle Rock, CO 80108 Ā· 3bd/3ba Ā· $610,000
List Price
$610,000
Assumable Rate
5.22%
Remaining Balance
$408,380
Equity Gap
$201,032
Loan Type
VAAdjust Your Scenario
$30,500
$30,500$201,032
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.22% (VA)
Blended Rate: 6.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,663/moAssumable @ 5.22% + gap loan
$3,559/moAssumed loan: $2,248/mo
Gap financing: $1,311/mo
$104less per month with the assumable
Your Savings on This Property
2103 Trail Stone, Castle Rock Ā· 5.22% VA vs 6.5% conventional
$104
per month
$1,249
per year
$37,470
over 30 years
$36,882
interest saved
How gap financing works: The equity gap ($201,032) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,500, 5% of purchase price) and a second mortgage for the rest ($170,532 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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