Loan Comparison: 2.9% vs 6.5%
3927 Nordland, Castle Rock, CO 80109 · 3bd/3ba · $440,000
List Price
$440,000
Assumable Rate
2.9%
Remaining Balance
$336,543
Equity Gap
$144,746
Loan Type
VAAdjust Your Scenario
$22,000
$22,000$144,746
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.40%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,642/moAssumable @ 2.9% + gap loan
$2,345/moAssumed loan: $1,401/mo
Gap financing: $944/mo
$297less per month with the assumable
Your Savings on This Property
3927 Nordland, Castle Rock · 2.9% VA vs 6.5% conventional
$297
per month
$3,569
per year
$107,079
over 30 years
$148,368
interest saved
How gap financing works: The equity gap ($144,746) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,000, 5% of purchase price) and a second mortgage for the rest ($122,746 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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