Loan Comparison: 2.77% vs 6.5%
6579 Steuben, Castle Rock, CO 80108 · 4bd/4ba · $875,000
List Price
$875,000
Assumable Rate
2.77%
Remaining Balance
$659,300
Equity Gap
$286,593
Loan Type
VAAdjust Your Scenario
$43,750
$43,750$286,593
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.77% (VA)
Blended Rate: 4.31%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,254/moAssumable @ 2.77% + gap loan
$4,566/moAssumed loan: $2,699/mo
Gap financing: $1,867/mo
$688less per month with the assumable
Your Savings on This Property
6579 Steuben, Castle Rock · 2.77% VA vs 6.5% conventional
$688
per month
$8,259
per year
$247,784
over 30 years
$318,677
interest saved
How gap financing works: The equity gap ($286,593) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($43,750, 5% of purchase price) and a second mortgage for the rest ($242,843 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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