Loan Comparison: 2.94% vs 6.5%
3648 Cerf, Castle Rock, CO 80109 · 2bd/3ba · $525,000
List Price
$525,000
Assumable Rate
2.94%
Remaining Balance
$372,659
Equity Gap
$153,192
Loan Type
VAAdjust Your Scenario
$26,250
$26,250$153,192
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.94% (VA)
Blended Rate: 4.35%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,152/moAssumable @ 2.94% + gap loan
$2,535/moAssumed loan: $1,559/mo
Gap financing: $976/mo
$617less per month with the assumable
Your Savings on This Property
3648 Cerf, Castle Rock · 2.94% VA vs 6.5% conventional
$617
per month
$7,407
per year
$222,211
over 30 years
$223,062
interest saved
How gap financing works: The equity gap ($153,192) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($26,250, 5% of purchase price) and a second mortgage for the rest ($126,942 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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