Loan Comparison: 2.85% vs 6.5%
1157 Ptarmigan Drive, Woodland Park, CO 80863 · 3bd/2ba · $612,200
List Price
$612,200
Assumable Rate
2.85%
Remaining Balance
$544,587
Equity Gap
$67,612
Loan Type
VAAdjust Your Scenario
$30,610
$30,610$67,612
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.85% (VA)
Blended Rate: 3.15%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,676/moAssumable @ 2.85% + gap loan
$2,511/moAssumed loan: $2,252/mo
Gap financing: $259/mo
$1,165less per month with the assumable
Your Savings on This Property
1157 Ptarmigan Drive, Woodland Park · 2.85% VA vs 6.5% conventional
$1,165
per month
$13,982
per year
$419,451
over 30 years
$419,450
interest saved
How gap financing works: The equity gap ($67,612) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,610, 5% of purchase price) and a second mortgage for the rest ($37,002 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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