Loan Comparison: 3.62% vs 6.5%
1922 Woodpark, Colorado Springs, CO 80951 · 3bd/3ba · $455,000
List Price
$455,000
Assumable Rate
3.62%
Remaining Balance
$236,886
Equity Gap
$217,595
Loan Type
VAAdjust Your Scenario
$22,750
$22,750$217,595
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.62% (VA)
Blended Rate: 5.82%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,732/moAssumable @ 3.62% + gap loan
$2,578/moAssumed loan: $1,080/mo
Gap financing: $1,498/mo
$154less per month with the assumable
Your Savings on This Property
1922 Woodpark, Colorado Springs · 3.62% VA vs 6.5% conventional
$154
per month
$1,851
per year
$55,537
over 30 years
$55,018
interest saved
How gap financing works: The equity gap ($217,595) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($22,750, 5% of purchase price) and a second mortgage for the rest ($194,845 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 1922 Woodpark.
View Listing Details📈
Interested in This Home?
Get full loan details and schedule a showing. Free, no obligation.