Loan Comparison: 3.47% vs 6.5%
4205 Morning Star, Castle Rock, CO 80108 · 4bd/5ba · $1,150,000
List Price
$1,150,000
Assumable Rate
3.47%
Remaining Balance
$592,879
Equity Gap
$706,121
Loan Type
VAAdjust Your Scenario
$57,500
$57,500$706,121
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.47% (VA)
Blended Rate: 6.10%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,905/moAssumable @ 3.47% + gap loan
$7,640/moAssumed loan: $2,652/mo
Gap financing: $4,987/mo
Your Savings on This Property
4205 Morning Star, Castle Rock · 3.47% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($706,121) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($57,500, 5% of purchase price) and a second mortgage for the rest ($648,621 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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