Loan Comparison: 2.99% vs 6.5%
2501 Cutters, Castle Rock, CO 80108 · 2bd/3ba · $389,000
List Price
$389,000
Assumable Rate
2.99%
Remaining Balance
$359,076
Equity Gap
$69,226
Loan Type
VAAdjust Your Scenario
$19,450
$19,450$69,226
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.66%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,336/moAssumable @ 2.99% + gap loan
$1,895/moAssumed loan: $1,512/mo
Gap financing: $383/mo
$441less per month with the assumable
Your Savings on This Property
2501 Cutters, Castle Rock · 2.99% VA vs 6.5% conventional
$441
per month
$5,294
per year
$158,807
over 30 years
$198,109
interest saved
How gap financing works: The equity gap ($69,226) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($19,450, 5% of purchase price) and a second mortgage for the rest ($49,776 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.
🏠
Back to This Listing
View photos, details, and request a showing for 2501 Cutters.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.