Loan Comparison: 4.06% vs 6.5%
917 Centre Camino NA, Woodland Park, CO 80863 · 2bd/1ba · $569,900
List Price
$569,900
Assumable Rate
4.06%
Remaining Balance
$314,636
Equity Gap
$255,263
Loan Type
VAAdjust Your Scenario
$28,495
$28,495$255,263
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.06% (VA)
Blended Rate: 5.50%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,422/moAssumable @ 4.06% + gap loan
$3,099/moAssumed loan: $1,513/mo
Gap financing: $1,586/mo
$323less per month with the assumable
Your Savings on This Property
917 Centre Camino NA, Woodland Park · 4.06% VA vs 6.5% conventional
$323
per month
$3,881
per year
$116,434
over 30 years
$116,433
interest saved
How gap financing works: The equity gap ($255,263) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($28,495, 5% of purchase price) and a second mortgage for the rest ($226,768 at 7.5%). 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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