Loan Comparison: 3.8% vs 6.5%
318 Klitowya, Woodland Park, CO 80863 · 2bd/2ba · $349,999
List Price
$349,999
Assumable Rate
3.8%
Remaining Balance
$252,185
Equity Gap
$98,932
Loan Type
VAAdjust Your Scenario
$17,500
$17,500$98,932
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.8% (VA)
Blended Rate: 4.95%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,102/moAssumable @ 3.8% + gap loan
$1,801/moAssumed loan: $1,175/mo
Gap financing: $626/mo
$300less per month with the assumable
Your Savings on This Property
318 Klitowya, Woodland Park · 3.8% VA vs 6.5% conventional
$300
per month
$3,605
per year
$108,145
over 30 years
$109,263
interest saved
How gap financing works: The equity gap ($98,932) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($17,500, 5% of purchase price) and a second mortgage for the rest ($81,432 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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