Loan Comparison: 3.85% vs 6.5%
1350 Masters Drive, Woodland Park, CO 80863 · 3bd/2ba · $849,900
List Price
$849,900
Assumable Rate
3.85%
Remaining Balance
$766,655
Equity Gap
$83,245
Loan Type
VAAdjust Your Scenario
$42,495
$42,495$83,245
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.85% (VA)
Blended Rate: 4.03%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,103/moAssumable @ 3.85% + gap loan
$3,879/moAssumed loan: $3,594/mo
Gap financing: $285/mo
$1,224less per month with the assumable
Your Savings on This Property
1350 Masters Drive, Woodland Park · 3.85% VA vs 6.5% conventional
$1,224
per month
$14,691
per year
$440,740
over 30 years
$440,740
interest saved
How gap financing works: The equity gap ($83,245) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($42,495, 5% of purchase price) and a second mortgage for the rest ($40,750 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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