Loan Comparison: 3% vs 6.5%
3222 Running Deer, Castle Rock, CO 80109 · 6bd/6ba · $1,200,000
List Price
$1,200,000
Assumable Rate
3%
Remaining Balance
$771,717
Equity Gap
$429,981
Loan Type
VAAdjust Your Scenario
$60,000
$60,000$429,981
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3% (VA)
Blended Rate: 4.78%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,206/moAssumable @ 3% + gap loan
$6,098/moAssumed loan: $3,254/mo
Gap financing: $2,845/mo
$1,107less per month with the assumable
Your Savings on This Property
3222 Running Deer, Castle Rock · 3% VA vs 6.5% conventional
$1,107
per month
$13,286
per year
$398,575
over 30 years
$400,273
interest saved
How gap financing works: The equity gap ($429,981) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($60,000, 5% of purchase price) and a second mortgage for the rest ($369,981 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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