Loan Comparison: 2.77% vs 6.5%
6020 Castlewood, Colorado Springs, CO 80918 · 4bd/3ba · $649,500
List Price
$649,500
Assumable Rate
2.77%
Remaining Balance
$317,421
Equity Gap
$331,339
Loan Type
VAAdjust Your Scenario
$32,475
$32,475$331,339
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.55%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,900/moAssumable @ 2.77% + gap loan
$3,597/moAssumed loan: $1,299/mo
Gap financing: $2,298/mo
$303less per month with the assumable
Your Savings on This Property
6020 Castlewood, Colorado Springs · 2.77% VA vs 6.5% conventional
$303
per month
$3,634
per year
$109,009
over 30 years
$108,269
interest saved
How gap financing works: The equity gap ($331,339) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($32,475, 5% of purchase price) and a second mortgage for the rest ($298,864 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.
🏠
Back to This Listing
View photos, details, and request a showing for 6020 Castlewood.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.