Loan Comparison: 3.8% vs 6.5%
974 Halfmoon, Castle Rock, CO 80104 · 4bd/3ba · $735,000
List Price
$735,000
Assumable Rate
3.8%
Remaining Balance
$444,812
Equity Gap
$340,826
Loan Type
VAAdjust Your Scenario
$36,750
$36,750$340,826
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%
$4,413/moAssumable @ 3.8% + gap loan
$4,411/moAssumed loan: $2,073/mo
Gap financing: $2,338/mo
$3less per month with the assumable
Your Savings on This Property
974 Halfmoon, Castle Rock · 3.8% VA vs 6.5% conventional
$3
per month
$32
per year
$972
over 30 years
$51,610
interest saved
How gap financing works: The equity gap ($340,826) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($36,750, 5% of purchase price) and a second mortgage for the rest ($304,076 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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