Loan Comparison: 4.03% vs 6.5%
111 Pine, Woodland Park, CO 80863 · 2bd/1ba · $399,999
List Price
$399,999
Assumable Rate
4.03%
Remaining Balance
$207,576
Equity Gap
$193,404
Loan Type
VAAdjust Your Scenario
$20,000
$20,000$193,404
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.03% (VA)
Blended Rate: 6.06%
Monthly Payment Comparison
New Conventional @ 6.5%
$2,402/moAssumable @ 4.03% + gap loan
$2,328/moAssumed loan: $995/mo
Gap financing: $1,333/mo
$74less per month with the assumable
Your Savings on This Property
111 Pine, Woodland Park · 4.03% VA vs 6.5% conventional
$74
per month
$887
per year
$26,616
over 30 years
$27,597
interest saved
How gap financing works: The equity gap ($193,404) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($20,000, 5% of purchase price) and a second mortgage for the rest ($173,404 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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