Loan Comparison: 2.85% vs 6.5%
5510 Spring Ridge, Castle Rock, CO 80104 · 5bd/4ba · $705,000
List Price
$705,000
Assumable Rate
2.85%
Remaining Balance
$572,768
Equity Gap
$133,550
Loan Type
VAAdjust Your Scenario
$35,250
$35,250$133,550
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.85% (VA)
Blended Rate: 3.68%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,233/moAssumable @ 2.85% + gap loan
$3,125/moAssumed loan: $2,369/mo
Gap financing: $756/mo
$1,109less per month with the assumable
Your Savings on This Property
5510 Spring Ridge, Castle Rock · 2.85% VA vs 6.5% conventional
$1,109
per month
$13,305
per year
$399,135
over 30 years
$400,453
interest saved
How gap financing works: The equity gap ($133,550) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($35,250, 5% of purchase price) and a second mortgage for the rest ($98,300 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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