Loan Comparison: 2.9% vs 6.5%
3927 Nordland, Castle Rock, CO 80109 · 3bd/3ba · $435,000
List Price
$435,000
Assumable Rate
2.9%
Remaining Balance
$293,958
Equity Gap
$139,746
Loan Type
VAAdjust Your Scenario
$21,750
$21,750$139,746
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.9% (VA)
Blended Rate: 4.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,612/moAssumable @ 2.9% + gap loan
$2,131/moAssumed loan: $1,224/mo
Gap financing: $907/mo
$481less per month with the assumable
Your Savings on This Property
3927 Nordland, Castle Rock · 2.9% VA vs 6.5% conventional
$481
per month
$5,774
per year
$173,229
over 30 years
$171,933
interest saved
How gap financing works: The equity gap ($139,746) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($21,750, 5% of purchase price) and a second mortgage for the rest ($117,996 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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