Loan Comparison: 2.74% vs 6.5%
2015 Rosette, Castle Rock, CO 80104 · 4bd/4ba · $624,850
List Price
$624,850
Assumable Rate
2.74%
Remaining Balance
$470,849
Equity Gap
$171,176
Loan Type
VAAdjust Your Scenario
$31,243
$31,243$171,176
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.74% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,752/moAssumable @ 2.74% + gap loan
$2,996/moAssumed loan: $1,920/mo
Gap financing: $1,076/mo
$756less per month with the assumable
Your Savings on This Property
2015 Rosette, Castle Rock · 2.74% VA vs 6.5% conventional
$756
per month
$9,076
per year
$272,280
over 30 years
$289,454
interest saved
How gap financing works: The equity gap ($171,176) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($31,243, 5% of purchase price) and a second mortgage for the rest ($139,933 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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