Loan Comparison: 3.8% vs 6.5%
974 Halfmoon, Castle Rock, CO 80104 · 4bd/3ba · $699,900
List Price
$699,900
Assumable Rate
3.8%
Remaining Balance
$394,173
Equity Gap
$305,726
Loan Type
VAAdjust Your Scenario
$34,995
$34,995$305,726
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 5.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,203/moAssumable @ 3.8% + gap loan
$3,918/moAssumed loan: $1,837/mo
Gap financing: $2,082/mo
$284less per month with the assumable
Your Savings on This Property
974 Halfmoon, Castle Rock · 3.8% VA vs 6.5% conventional
$284
per month
$3,411
per year
$102,343
over 30 years
$102,342
interest saved
How gap financing works: The equity gap ($305,726) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($34,995, 5% of purchase price) and a second mortgage for the rest ($270,731 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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