Loan Comparison: 3.13% vs 6.5%
6485 Saddlesmith, Castle Pines, CO 80108 · 5bd/6ba · $1,100,000
List Price
$1,100,000
Assumable Rate
3.13%
Remaining Balance
$696,333
Equity Gap
$402,045
Loan Type
VAAdjust Your Scenario
$55,000
$55,000$402,045
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.13% (VA)
Blended Rate: 4.92%
Monthly Payment Comparison
New Conventional @ 6.5%
$6,605/moAssumable @ 3.13% + gap loan
$5,653/moAssumed loan: $2,985/mo
Gap financing: $2,668/mo
$952less per month with the assumable
Your Savings on This Property
6485 Saddlesmith, Castle Pines · 3.13% VA vs 6.5% conventional
$952
per month
$11,422
per year
$342,655
over 30 years
$341,033
interest saved
How gap financing works: The equity gap ($402,045) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($55,000, 5% of purchase price) and a second mortgage for the rest ($347,045 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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