Loan Comparison: 5.7% vs 6.5%
6686 Solana, Castle Pines, CO 80108 · 5bd/3ba · $850,000
List Price
$850,000
Assumable Rate
5.7%
Remaining Balance
$747,254
Equity Gap
$101,759
Loan Type
VAAdjust Your Scenario
$42,500
$42,500$101,759
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.7% (VA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,104/moAssumable @ 5.7% + gap loan
$4,793/moAssumed loan: $4,337/mo
Gap financing: $456/mo
$311less per month with the assumable
Your Savings on This Property
6686 Solana, Castle Pines · 5.7% VA vs 6.5% conventional
$311
per month
$3,735
per year
$112,044
over 30 years
$111,057
interest saved
How gap financing works: The equity gap ($101,759) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,500, 5% of purchase price) and a second mortgage for the rest ($59,259 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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