Loan Comparison: 2.84% vs 6.5%
600 Spruce, Woodland Park, CO 80863 · 3bd/2ba · $614,900
List Price
$614,900
Assumable Rate
2.84%
Remaining Balance
$476,979
Equity Gap
$136,864
Loan Type
VAAdjust Your Scenario
$30,745
$30,745$136,864
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 2.84% (VA)
Blended Rate: 3.87%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,692/moAssumable @ 2.84% + gap loan
$2,786/moAssumed loan: $1,970/mo
Gap financing: $816/mo
$906less per month with the assumable
Your Savings on This Property
600 Spruce, Woodland Park · 2.84% VA vs 6.5% conventional
$906
per month
$10,875
per year
$326,252
over 30 years
$325,195
interest saved
How gap financing works: The equity gap ($136,864) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($30,745, 5% of purchase price) and a second mortgage for the rest ($106,119 at 8.5%). 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 600 Spruce.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.