Loan Comparison: 4.27% vs 6.5%
917 Centre Camino, Woodland Park, CO 80863 · 4bd/2ba · $585,000
List Price
$585,000
Assumable Rate
4.27%
Remaining Balance
$316,851
Equity Gap
$267,471
Loan Type
VAAdjust Your Scenario
$29,250
$29,250$267,471
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 4.27% (VA)
Blended Rate: 6.09%
Monthly Payment Comparison
New Conventional @ 6.5%
$3,513/moAssumable @ 4.27% + gap loan
$3,394/moAssumed loan: $1,562/mo
Gap financing: $1,832/mo
$119less per month with the assumable
Your Savings on This Property
917 Centre Camino, Woodland Park · 4.27% VA vs 6.5% conventional
$119
per month
$1,423
per year
$42,687
over 30 years
$42,009
interest saved
How gap financing works: The equity gap ($267,471) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($29,250, 5% of purchase price) and a second mortgage for the rest ($238,221 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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