Loan Comparison: 2.89% vs 6.5%
5921 Plains End, Castle Rock, CO 80104 · 3bd/2ba · $575,000
List Price
$575,000
Assumable Rate
2.89%
Remaining Balance
$495,255
Equity Gap
$177,645
Loan Type
VAAdjust Your Scenario
$28,750
$28,750$177,645
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.89% (VA)
Blended Rate: 4.19%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,453/moAssumable @ 2.89% + gap loan
$3,204/moAssumed loan: $2,059/mo
Gap financing: $1,145/mo
$249less per month with the assumable
Your Savings on This Property
5921 Plains End, Castle Rock · 2.89% VA vs 6.5% conventional
$249
per month
$2,989
per year
$89,658
over 30 years
$187,558
interest saved
How gap financing works: The equity gap ($177,645) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,750, 5% of purchase price) and a second mortgage for the rest ($148,895 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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