Loan Comparison: 5.27% vs 6.5%
358 Creek Side, Woodland Park, CO 80863 · 4bd/3ba · $960,000
List Price
$960,000
Assumable Rate
5.27%
Remaining Balance
$616,284
Equity Gap
$343,716
Loan Type
VAAdjust Your Scenario
$48,000
$48,000$343,716
8.50%
5%10%
Second mortgage rate on the equity gap
Conventional Rate: 6.5% (30yr fixed)
Assumable Rate: 5.27% (VA)
Blended Rate: 6.32%
Monthly Payment Comparison
New Conventional @ 6.5%
$5,764/moAssumable @ 5.27% + gap loan
$5,685/moAssumed loan: $3,411/mo
Gap financing: $2,274/mo
$80less per month with the assumable
Your Savings on This Property
358 Creek Side, Woodland Park · 5.27% VA vs 6.5% conventional
$80
per month
$959
per year
$28,756
over 30 years
$28,756
interest saved
How gap financing works: The equity gap ($343,716) is the difference between the home price and the remaining loan balance. You cover this with a down payment ($48,000, 5% of purchase price) and a second mortgage for the rest ($295,716 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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