Loan Comparison: 3.35% vs 6.5%
791 Skyline, Woodland Park, CO 80863 · 6bd/5ba · $1,295,000
List Price
$1,295,000
Assumable Rate
3.35%
Remaining Balance
$637,430
Equity Gap
$657,570
Loan Type
VAAdjust Your Scenario
$64,750
$64,750$657,570
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.35% (VA)
Blended Rate: 5.83%
Monthly Payment Comparison
New Conventional @ 6.5%
$7,776/moAssumable @ 3.35% + gap loan
$7,368/moAssumed loan: $2,809/mo
Gap financing: $4,558/mo
$409less per month with the assumable
Your Savings on This Property
791 Skyline, Woodland Park · 3.35% VA vs 6.5% conventional
$409
per month
$4,902
per year
$147,061
over 30 years
$147,061
interest saved
How gap financing works: The equity gap ($657,570) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($64,750, 5% of purchase price) and a second mortgage for the rest ($592,820 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.
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