Loan Comparison: 3.6% vs 6.5%
4812 Silverlace, Castle Rock, CO 80109 · 4bd/3ba · $560,000
List Price
$560,000
Assumable Rate
3.6%
Remaining Balance
$175,957
Equity Gap
$384,043
Loan Type
VAAdjust Your Scenario
$28,000
$28,000$384,043
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.6% (VA)
Blended Rate: 6.88%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,363/moAssumable @ 3.6% + gap loan
$3,538/moAssumed loan: $800/mo
Gap financing: $2,738/mo
Your Savings on This Property
4812 Silverlace, Castle Rock · 3.6% 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 ($384,043) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,000, 5% of purchase price) and a second mortgage for the rest ($356,043 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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