Loan Comparison: 2.77% vs 6.5%
2445 Lake Gulch, Castle Rock, CO 80104 · 5bd/3ba · $1,295,000
List Price
$1,295,000
Assumable Rate
2.77%
Remaining Balance
$529,704
Equity Gap
$765,296
Loan Type
VAAdjust Your Scenario
$64,750
$64,750$765,296
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 6.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,776/moAssumable @ 2.77% + gap loan
$7,555/moAssumed loan: $2,168/mo
Gap financing: $5,387/mo
$221less per month with the assumable
Your Savings on This Property
2445 Lake Gulch, Castle Rock · 2.77% VA vs 6.5% conventional
$221
per month
$2,656
per year
$79,682
over 30 years
$79,682
interest saved
How gap financing works: The equity gap ($765,296) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($64,750, 5% of purchase price) and a second mortgage for the rest ($700,546 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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