Loan Comparison: 4.03% vs 6.5%
111 Pine, Woodland Park, CO 80863 · 2bd/1ba · $375,000
List Price
$375,000
Assumable Rate
4.03%
Remaining Balance
$206,595
Equity Gap
$168,405
Loan Type
VAAdjust Your Scenario
$18,750
$18,750$168,405
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (VA)
Blended Rate: 5.91%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,252/moAssumable @ 4.03% + gap loan
$2,141/moAssumed loan: $990/mo
Gap financing: $1,151/mo
$111less per month with the assumable
Your Savings on This Property
111 Pine, Woodland Park · 4.03% VA vs 6.5% conventional
$111
per month
$1,334
per year
$40,008
over 30 years
$40,008
interest saved
How gap financing works: The equity gap ($168,405) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($18,750, 5% of purchase price) and a second mortgage for the rest ($149,655 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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