Loan Comparison: 2.77% vs 6.5%
5200 Kensington, Castle Rock, CO 80104 · 4bd/3ba · $489,000
List Price
$489,000
Assumable Rate
2.77%
Remaining Balance
$240,503
Equity Gap
$249,053
Loan Type
VAAdjust Your Scenario
$24,450
$24,450$249,053
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 5.54%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,936/moAssumable @ 2.77% + gap loan
$2,711/moAssumed loan: $984/mo
Gap financing: $1,727/mo
$225less per month with the assumable
Your Savings on This Property
5200 Kensington, Castle Rock · 2.77% VA vs 6.5% conventional
$225
per month
$2,699
per year
$80,959
over 30 years
$81,515
interest saved
How gap financing works: The equity gap ($249,053) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($24,450, 5% of purchase price) and a second mortgage for the rest ($224,603 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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