Loan Comparison: 2.84% vs 6.5%
3524 Dove Valley, Castle Rock, CO 80108 · 6bd/4ba · $850,000
List Price
$850,000
Assumable Rate
2.84%
Remaining Balance
$472,687
Equity Gap
$376,266
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$376,266
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 5.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 2.84% + gap loan
$4,519/moAssumed loan: $1,952/mo
Gap financing: $2,566/mo
$585less per month with the assumable
Your Savings on This Property
3524 Dove Valley, Castle Rock · 2.84% VA vs 6.5% conventional
$585
per month
$7,023
per year
$210,696
over 30 years
$209,649
interest saved
How gap financing works: The equity gap ($376,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($333,766 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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