Loan Comparison: 2.76% vs 6.5%
5176 Ditmars, Castle Rock, CO 80104 · 6bd/4ba · $859,500
List Price
$859,500
Assumable Rate
2.76%
Remaining Balance
$634,462
Equity Gap
$229,386
Loan Type
VAAdjust Your Scenario
$42,975
$42,975$229,386
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.76% (VA)
Blended Rate: 4.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,161/moAssumable @ 2.76% + gap loan
$4,027/moAssumed loan: $2,593/mo
Gap financing: $1,433/mo
$1,134less per month with the assumable
Your Savings on This Property
5176 Ditmars, Castle Rock · 2.76% VA vs 6.5% conventional
$1,134
per month
$13,610
per year
$408,297
over 30 years
$412,645
interest saved
How gap financing works: The equity gap ($229,386) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,975, 5% of purchase price) and a second mortgage for the rest ($186,411 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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