Loan Comparison: 6.77% vs 6.5%
120 Red Rock Court, Woodland Park, CO 80863 · 4bd/2ba · $550,000
List Price
$550,000
Assumable Rate
6.77%
Remaining Balance
$500,943
Equity Gap
$49,056
Loan Type
VAAdjust Your Scenario
$27,500
$27,500$49,056
7.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 6.77% (VA)
Blended Rate: 6.80%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,303/moAssumable @ 6.77% + gap loan
$3,406/moAssumed loan: $3,256/mo
Gap financing: $151/mo
Your Savings on This Property
120 Red Rock Court, Woodland Park · 6.77% VA vs 6.5% conventional
$0
per month
$0
per year
$0
over 30 years
$0
interest saved
How gap financing works: The equity gap ($49,056) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($27,500, 5% of purchase price) and a second mortgage for the rest ($21,556 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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