Loan Comparison: 4.04% vs 6.5%
111 Pine Street, Woodland Park, CO 80863 · 5bd/5ba · $375,000
List Price
$375,000
Assumable Rate
4.04%
Remaining Balance
$205,168
Equity Gap
$169,832
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$169,832
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.04% (VA)
Blended Rate: 5.51%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 4.04% + gap loan
$2,041/moAssumed loan: $984/mo
Gap financing: $1,056/mo
$211less per month with the assumable
Your Savings on This Property
111 Pine Street, Woodland Park · 4.04% VA vs 6.5% conventional
$211
per month
$2,533
per year
$76,001
over 30 years
$76,001
interest saved
How gap financing works: The equity gap ($169,832) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($151,082 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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