Loan Comparison: 3.09% vs 6.5%
115 Hawkridge, Woodland Park, CO 80863 · 5bd/4ba · $800,000
List Price
$800,000
Assumable Rate
3.09%
Remaining Balance
$673,072
Equity Gap
$126,928
Loan Type
VAAdjust Your Scenario
$40,000
$40,000$126,928
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 3.09% (VA)
Blended Rate: 3.71%
Monthly Payment Comparison
New Conventional @ 6.5%
$4,804/moAssumable @ 3.09% + gap loan
$3,539/moAssumed loan: $2,870/mo
Gap financing: $668/mo
$1,265less per month with the assumable
Your Savings on This Property
115 Hawkridge, Woodland Park · 3.09% VA vs 6.5% conventional
$1,265
per month
$15,178
per year
$455,343
over 30 years
$455,343
interest saved
How gap financing works: The equity gap ($126,928) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($40,000, 5% of purchase price) and a second mortgage for the rest ($86,928 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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