Loan Comparison: 2.84% vs 6.5%
3524 Dove Valley, Castle Rock, CO 80108 · 5bd/3ba · $900,000
List Price
$900,000
Assumable Rate
2.84%
Remaining Balance
$588,304
Equity Gap
$426,266
Loan Type
VAAdjust Your Scenario
$45,000
$45,000$426,266
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 5.07%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,404/moAssumable @ 2.84% + gap loan
$5,361/moAssumed loan: $2,430/mo
Gap financing: $2,932/mo
$43less per month with the assumable
Your Savings on This Property
3524 Dove Valley, Castle Rock · 2.84% VA vs 6.5% conventional
$43
per month
$513
per year
$15,386
over 30 years
$129,956
interest saved
How gap financing works: The equity gap ($426,266) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($45,000, 5% of purchase price) and a second mortgage for the rest ($381,266 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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