Loan Comparison: 5.27% vs 6.5%
358 Creek Side Drive, Woodland Park, CO 80863 · 4bd/2ba · $960,000
List Price
$960,000
Assumable Rate
5.27%
Remaining Balance
$615,358
Equity Gap
$344,641
Loan Type
VAAdjust Your Scenario
$48,000
$48,000$344,641
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.27% (VA)
Blended Rate: 6.00%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,764/moAssumable @ 5.27% + gap loan
$5,480/moAssumed loan: $3,406/mo
Gap financing: $2,074/mo
$285less per month with the assumable
Your Savings on This Property
358 Creek Side Drive, Woodland Park · 5.27% VA vs 6.5% conventional
$285
per month
$3,416
per year
$102,473
over 30 years
$102,472
interest saved
How gap financing works: The equity gap ($344,641) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,000, 5% of purchase price) and a second mortgage for the rest ($296,641 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.
🏠
Back to This Listing
View photos, details, and request a showing for 358 Creek Side Drive.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.