Loan Comparison: 2.99% vs 6.5%
2825 Merry Rest, Castle Rock, CO 80109 · 3bd/3ba · $580,000
List Price
$580,000
Assumable Rate
2.99%
Remaining Balance
$531,267
Equity Gap
$47,661
Loan Type
VAAdjust Your Scenario
$29,000
$29,000$47,661
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.99% (VA)
Blended Rate: 3.18%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,483/moAssumable @ 2.99% + gap loan
$2,380/moAssumed loan: $2,237/mo
Gap financing: $143/mo
$1,102less per month with the assumable
Your Savings on This Property
2825 Merry Rest, Castle Rock · 2.99% VA vs 6.5% conventional
$1,102
per month
$13,227
per year
$396,802
over 30 years
$395,730
interest saved
How gap financing works: The equity gap ($47,661) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,000, 5% of purchase price) and a second mortgage for the rest ($18,661 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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