Loan Comparison: 3.07% vs 6.5%
2336 Beacham, Castle Rock, CO 80104 · 4bd/4ba · $615,000
List Price
$615,000
Assumable Rate
3.07%
Remaining Balance
$452,612
Equity Gap
$163,342
Loan Type
VAAdjust Your Scenario
$30,750
$30,750$163,342
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.07% (VA)
Blended Rate: 4.30%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 3.07% + gap loan
$2,945/moAssumed loan: $1,925/mo
Gap financing: $1,020/mo
$748less per month with the assumable
Your Savings on This Property
2336 Beacham, Castle Rock · 3.07% VA vs 6.5% conventional
$748
per month
$8,976
per year
$269,273
over 30 years
$270,227
interest saved
How gap financing works: The equity gap ($163,342) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($132,592 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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