Loan Comparison: 2.83% vs 6.5%
4350 Old Windmill, Castle Rock, CO 80109 · 4bd/3ba · $614,999
List Price
$614,999
Assumable Rate
2.83%
Remaining Balance
$358,228
Equity Gap
$256,771
Loan Type
VAAdjust Your Scenario
$30,750
$30,750$256,771
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.83% (VA)
Blended Rate: 5.02%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,693/moAssumable @ 2.83% + gap loan
$3,216/moAssumed loan: $1,478/mo
Gap financing: $1,738/mo
$477less per month with the assumable
Your Savings on This Property
4350 Old Windmill, Castle Rock · 2.83% VA vs 6.5% conventional
$477
per month
$5,727
per year
$171,823
over 30 years
$171,823
interest saved
How gap financing works: The equity gap ($256,771) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,750, 5% of purchase price) and a second mortgage for the rest ($226,021 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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