Loan Comparison: 2.88% vs 6.5%
4298 Meadows, Castle Rock, CO 80109 · 2bd/3ba · $510,000
List Price
$510,000
Assumable Rate
2.88%
Remaining Balance
$273,250
Equity Gap
$236,750
Loan Type
VAAdjust Your Scenario
$25,500
$25,500$236,750
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.88% (VA)
Blended Rate: 5.33%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,062/moAssumable @ 2.88% + gap loan
$2,759/moAssumed loan: $1,134/mo
Gap financing: $1,624/mo
$304less per month with the assumable
Your Savings on This Property
4298 Meadows, Castle Rock · 2.88% VA vs 6.5% conventional
$304
per month
$3,643
per year
$109,302
over 30 years
$109,302
interest saved
How gap financing works: The equity gap ($236,750) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($25,500, 5% of purchase price) and a second mortgage for the rest ($211,250 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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