$118,750 Mortgage for 30 Years

What is the monthly payment of a 118,750 dollar loan?
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Loan Tables for a $118,750 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 119k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $118,750 home? What if I pay a bigger down payment? Make sure to think about maintenance costs, taxes, insurance, and other costs.

Use this to calculate a loan for anything, such as a vehicle, business loan, home, RV, motor home, mobile home, manufactured home, real estate, land, vacation property, education, or any type of debt.
Interest Rate 30 Year
118,750 at 2.01%$439.52
118,750 at 2.02%$440.11
118,750 at 2.03%$440.71
118,750 at 2.04%$441.30
118,750 at 2.05%$441.90
118,750 at 2.06%$442.49
118,750 at 2.07%$443.09
118,750 at 2.08%$443.69
118,750 at 2.09%$444.29
118,750 at 2.1%$444.89
118,750 at 2.11%$445.48
118,750 at 2.12%$446.08
118,750 at 2.13%$446.68
118,750 at 2.14%$447.28
118,750 at 2.15%$447.88
118,750 at 2.16%$448.49
118,750 at 2.17%$449.09
118,750 at 2.18%$449.69
118,750 at 2.19%$450.29
118,750 at 2.2%$450.89
118,750 at 2.21%$451.50
118,750 at 2.22%$452.10
118,750 at 2.23%$452.71
118,750 at 2.24%$453.31
118,750 at 2.25%$453.92
118,750 at 2.26%$454.52
118,750 at 2.27%$455.13
118,750 at 2.28%$455.74
118,750 at 2.29%$456.34
118,750 at 2.3%$456.95
118,750 at 2.31%$457.56
118,750 at 2.32%$458.17
118,750 at 2.33%$458.78
118,750 at 2.34%$459.39
118,750 at 2.35%$460.00
118,750 at 2.36%$460.61
118,750 at 2.37%$461.22
118,750 at 2.38%$461.83
118,750 at 2.39%$462.44
118,750 at 2.4%$463.06
118,750 at 2.41%$463.67
118,750 at 2.42%$464.28
118,750 at 2.43%$464.90
118,750 at 2.44%$465.51
118,750 at 2.45%$466.12
118,750 at 2.46%$466.74
118,750 at 2.47%$467.36
118,750 at 2.48%$467.97
118,750 at 2.49%$468.59
118,750 at 2.5%$469.21
118,750 at 2.51%$469.82
118,750 at 2.52%$470.44
118,750 at 2.53%$471.06
118,750 at 2.54%$471.68
118,750 at 2.55%$472.30
118,750 at 2.56%$472.92
118,750 at 2.57%$473.54
118,750 at 2.58%$474.16
118,750 at 2.59%$474.78
118,750 at 2.6%$475.40
118,750 at 2.61%$476.03
118,750 at 2.62%$476.65
118,750 at 2.63%$477.27
118,750 at 2.64%$477.90
118,750 at 2.65%$478.52
118,750 at 2.66%$479.14
118,750 at 2.67%$479.77
118,750 at 2.68%$480.39
118,750 at 2.69%$481.02
118,750 at 2.7%$481.65
118,750 at 2.71%$482.27
118,750 at 2.72%$482.90
118,750 at 2.73%$483.53
118,750 at 2.74%$484.16
118,750 at 2.75%$484.79
118,750 at 2.76%$485.42
118,750 at 2.77%$486.05
118,750 at 2.78%$486.68
118,750 at 2.79%$487.31
118,750 at 2.8%$487.94
118,750 at 2.81%$488.57
118,750 at 2.82%$489.20
118,750 at 2.83%$489.83
118,750 at 2.84%$490.47
118,750 at 2.85%$491.10
118,750 at 2.86%$491.73
118,750 at 2.87%$492.37
118,750 at 2.88%$493.00
118,750 at 2.89%$493.64
118,750 at 2.9%$494.27
118,750 at 2.91%$494.91
118,750 at 2.92%$495.55
118,750 at 2.93%$496.18
118,750 at 2.94%$496.82
118,750 at 2.95%$497.46
118,750 at 2.96%$498.10
118,750 at 2.97%$498.74
118,750 at 2.98%$499.37
118,750 at 2.99%$500.01
118,750 at 3%$500.65
118,750 at 3.01%$501.30
118,750 at 3.02%$501.94
118,750 at 3.03%$502.58
118,750 at 3.04%$503.22
118,750 at 3.05%$503.86
118,750 at 3.06%$504.51
118,750 at 3.07%$505.15
118,750 at 3.08%$505.79
118,750 at 3.09%$506.44
118,750 at 3.1%$507.08
118,750 at 3.11%$507.73
118,750 at 3.12%$508.37
118,750 at 3.13%$509.02
118,750 at 3.14%$509.67
118,750 at 3.15%$510.31
118,750 at 3.16%$510.96
118,750 at 3.17%$511.61
118,750 at 3.18%$512.26
118,750 at 3.19%$512.91
118,750 at 3.2%$513.55
118,750 at 3.21%$514.20
118,750 at 3.22%$514.85
118,750 at 3.23%$515.50
118,750 at 3.24%$516.16
118,750 at 3.25%$516.81
118,750 at 3.26%$517.46
118,750 at 3.27%$518.11
118,750 at 3.28%$518.76
118,750 at 3.29%$519.42
118,750 at 3.3%$520.07
118,750 at 3.31%$520.73
118,750 at 3.32%$521.38
118,750 at 3.33%$522.04
118,750 at 3.34%$522.69
118,750 at 3.35%$523.35
118,750 at 3.36%$524.00
118,750 at 3.37%$524.66
118,750 at 3.38%$525.32
118,750 at 3.39%$525.98
118,750 at 3.4%$526.63
118,750 at 3.41%$527.29
118,750 at 3.42%$527.95
118,750 at 3.43%$528.61
118,750 at 3.44%$529.27
118,750 at 3.45%$529.93
118,750 at 3.46%$530.59
118,750 at 3.47%$531.25
118,750 at 3.48%$531.92
118,750 at 3.49%$532.58
118,750 at 3.5%$533.24
Interest Rate 30 Year
118,750 at 3.51%$533.90
118,750 at 3.52%$534.57
118,750 at 3.53%$535.23
118,750 at 3.54%$535.90
118,750 at 3.55%$536.56
118,750 at 3.56%$537.23
118,750 at 3.57%$537.89
118,750 at 3.58%$538.56
118,750 at 3.59%$539.22
118,750 at 3.6%$539.89
118,750 at 3.61%$540.56
118,750 at 3.62%$541.23
118,750 at 3.63%$541.90
118,750 at 3.64%$542.56
118,750 at 3.65%$543.23
118,750 at 3.66%$543.90
118,750 at 3.67%$544.57
118,750 at 3.68%$545.24
118,750 at 3.69%$545.91
118,750 at 3.7%$546.59
118,750 at 3.71%$547.26
118,750 at 3.72%$547.93
118,750 at 3.73%$548.60
118,750 at 3.74%$549.28
118,750 at 3.75%$549.95
118,750 at 3.76%$550.62
118,750 at 3.77%$551.30
118,750 at 3.78%$551.97
118,750 at 3.79%$552.65
118,750 at 3.8%$553.32
118,750 at 3.81%$554.00
118,750 at 3.82%$554.68
118,750 at 3.83%$555.35
118,750 at 3.84%$556.03
118,750 at 3.85%$556.71
118,750 at 3.86%$557.39
118,750 at 3.87%$558.07
118,750 at 3.88%$558.75
118,750 at 3.89%$559.43
118,750 at 3.9%$560.11
118,750 at 3.91%$560.79
118,750 at 3.92%$561.47
118,750 at 3.93%$562.15
118,750 at 3.94%$562.83
118,750 at 3.95%$563.51
118,750 at 3.96%$564.20
118,750 at 3.97%$564.88
118,750 at 3.98%$565.56
118,750 at 3.99%$566.25
118,750 at 4%$566.93
118,750 at 4.01%$567.62
118,750 at 4.02%$568.30
118,750 at 4.03%$568.99
118,750 at 4.04%$569.67
118,750 at 4.05%$570.36
118,750 at 4.06%$571.05
118,750 at 4.07%$571.73
118,750 at 4.08%$572.42
118,750 at 4.09%$573.11
118,750 at 4.1%$573.80
118,750 at 4.11%$574.49
118,750 at 4.12%$575.18
118,750 at 4.13%$575.87
118,750 at 4.14%$576.56
118,750 at 4.15%$577.25
118,750 at 4.16%$577.94
118,750 at 4.17%$578.63
118,750 at 4.18%$579.32
118,750 at 4.19%$580.02
118,750 at 4.2%$580.71
118,750 at 4.21%$581.40
118,750 at 4.22%$582.09
118,750 at 4.23%$582.79
118,750 at 4.24%$583.48
118,750 at 4.25%$584.18
118,750 at 4.26%$584.87
118,750 at 4.27%$585.57
118,750 at 4.28%$586.27
118,750 at 4.29%$586.96
118,750 at 4.3%$587.66
118,750 at 4.31%$588.36
118,750 at 4.32%$589.06
118,750 at 4.33%$589.75
118,750 at 4.34%$590.45
118,750 at 4.35%$591.15
118,750 at 4.36%$591.85
118,750 at 4.37%$592.55
118,750 at 4.38%$593.25
118,750 at 4.39%$593.95
118,750 at 4.4%$594.65
118,750 at 4.41%$595.36
118,750 at 4.42%$596.06
118,750 at 4.43%$596.76
118,750 at 4.44%$597.46
118,750 at 4.45%$598.17
118,750 at 4.46%$598.87
118,750 at 4.47%$599.57
118,750 at 4.48%$600.28
118,750 at 4.49%$600.98
118,750 at 4.5%$601.69
118,750 at 4.51%$602.39
118,750 at 4.52%$603.10
118,750 at 4.53%$603.81
118,750 at 4.54%$604.51
118,750 at 4.55%$605.22
118,750 at 4.56%$605.93
118,750 at 4.57%$606.64
118,750 at 4.58%$607.35
118,750 at 4.59%$608.06
118,750 at 4.6%$608.77
118,750 at 4.61%$609.48
118,750 at 4.62%$610.19
118,750 at 4.63%$610.90
118,750 at 4.64%$611.61
118,750 at 4.65%$612.32
118,750 at 4.66%$613.03
118,750 at 4.67%$613.74
118,750 at 4.68%$614.46
118,750 at 4.69%$615.17
118,750 at 4.7%$615.88
118,750 at 4.71%$616.60
118,750 at 4.72%$617.31
118,750 at 4.73%$618.03
118,750 at 4.74%$618.74
118,750 at 4.75%$619.46
118,750 at 4.76%$620.17
118,750 at 4.77%$620.89
118,750 at 4.78%$621.61
118,750 at 4.79%$622.32
118,750 at 4.8%$623.04
118,750 at 4.81%$623.76
118,750 at 4.82%$624.48
118,750 at 4.83%$625.20
118,750 at 4.84%$625.91
118,750 at 4.85%$626.63
118,750 at 4.86%$627.35
118,750 at 4.87%$628.07
118,750 at 4.88%$628.80
118,750 at 4.89%$629.52
118,750 at 4.9%$630.24
118,750 at 4.91%$630.96
118,750 at 4.92%$631.68
118,750 at 4.93%$632.41
118,750 at 4.94%$633.13
118,750 at 4.95%$633.85
118,750 at 4.96%$634.58
118,750 at 4.97%$635.30
118,750 at 4.98%$636.02
118,750 at 4.99%$636.75
118,750 at 5%$637.48
Interest Rate 30 Year
118,750 at 5.01%$638.20
118,750 at 5.02%$638.93
118,750 at 5.03%$639.65
118,750 at 5.04%$640.38
118,750 at 5.05%$641.11
118,750 at 5.06%$641.84
118,750 at 5.07%$642.57
118,750 at 5.08%$643.29
118,750 at 5.09%$644.02
118,750 at 5.1%$644.75
118,750 at 5.11%$645.48
118,750 at 5.12%$646.21
118,750 at 5.13%$646.94
118,750 at 5.14%$647.67
118,750 at 5.15%$648.41
118,750 at 5.16%$649.14
118,750 at 5.17%$649.87
118,750 at 5.18%$650.60
118,750 at 5.19%$651.34
118,750 at 5.2%$652.07
118,750 at 5.21%$652.80
118,750 at 5.22%$653.54
118,750 at 5.23%$654.27
118,750 at 5.24%$655.01
118,750 at 5.25%$655.74
118,750 at 5.26%$656.48
118,750 at 5.27%$657.21
118,750 at 5.28%$657.95
118,750 at 5.29%$658.69
118,750 at 5.3%$659.42
118,750 at 5.31%$660.16
118,750 at 5.32%$660.90
118,750 at 5.33%$661.64
118,750 at 5.34%$662.38
118,750 at 5.35%$663.12
118,750 at 5.36%$663.86
118,750 at 5.37%$664.60
118,750 at 5.38%$665.34
118,750 at 5.39%$666.08
118,750 at 5.4%$666.82
118,750 at 5.41%$667.56
118,750 at 5.42%$668.30
118,750 at 5.43%$669.04
118,750 at 5.44%$669.79
118,750 at 5.45%$670.53
118,750 at 5.46%$671.27
118,750 at 5.47%$672.02
118,750 at 5.48%$672.76
118,750 at 5.49%$673.50
118,750 at 5.5%$674.25
118,750 at 5.51%$674.99
118,750 at 5.52%$675.74
118,750 at 5.53%$676.49
118,750 at 5.54%$677.23
118,750 at 5.55%$677.98
118,750 at 5.56%$678.73
118,750 at 5.57%$679.47
118,750 at 5.58%$680.22
118,750 at 5.59%$680.97
118,750 at 5.6%$681.72
118,750 at 5.61%$682.47
118,750 at 5.62%$683.22
118,750 at 5.63%$683.97
118,750 at 5.64%$684.72
118,750 at 5.65%$685.47
118,750 at 5.66%$686.22
118,750 at 5.67%$686.97
118,750 at 5.68%$687.72
118,750 at 5.69%$688.47
118,750 at 5.7%$689.23
118,750 at 5.71%$689.98
118,750 at 5.72%$690.73
118,750 at 5.73%$691.48
118,750 at 5.74%$692.24
118,750 at 5.75%$692.99
118,750 at 5.76%$693.75
118,750 at 5.77%$694.50
118,750 at 5.78%$695.26
118,750 at 5.79%$696.01
118,750 at 5.8%$696.77
118,750 at 5.81%$697.53
118,750 at 5.82%$698.28
118,750 at 5.83%$699.04
118,750 at 5.84%$699.80
118,750 at 5.85%$700.55
118,750 at 5.86%$701.31
118,750 at 5.87%$702.07
118,750 at 5.88%$702.83
118,750 at 5.89%$703.59
118,750 at 5.9%$704.35
118,750 at 5.91%$705.11
118,750 at 5.92%$705.87
118,750 at 5.93%$706.63
118,750 at 5.94%$707.39
118,750 at 5.95%$708.15
118,750 at 5.96%$708.92
118,750 at 5.97%$709.68
118,750 at 5.98%$710.44
118,750 at 5.99%$711.20
118,750 at 6%$711.97
118,750 at 6.01%$712.73
118,750 at 6.02%$713.49
118,750 at 6.03%$714.26
118,750 at 6.04%$715.02
118,750 at 6.05%$715.79
118,750 at 6.06%$716.55
118,750 at 6.07%$717.32
118,750 at 6.08%$718.09
118,750 at 6.09%$718.85
118,750 at 6.1%$719.62
118,750 at 6.11%$720.39
118,750 at 6.12%$721.15
118,750 at 6.13%$721.92
118,750 at 6.14%$722.69
118,750 at 6.15%$723.46
118,750 at 6.16%$724.23
118,750 at 6.17%$725.00
118,750 at 6.18%$725.77
118,750 at 6.19%$726.54
118,750 at 6.2%$727.31
118,750 at 6.21%$728.08
118,750 at 6.22%$728.85
118,750 at 6.23%$729.62
118,750 at 6.24%$730.39
118,750 at 6.25%$731.16
118,750 at 6.26%$731.94
118,750 at 6.27%$732.71
118,750 at 6.28%$733.48
118,750 at 6.29%$734.26
118,750 at 6.3%$735.03
118,750 at 6.31%$735.80
118,750 at 6.32%$736.58
118,750 at 6.33%$737.35
118,750 at 6.34%$738.13
118,750 at 6.35%$738.90
118,750 at 6.36%$739.68
118,750 at 6.37%$740.46
118,750 at 6.38%$741.23
118,750 at 6.39%$742.01
118,750 at 6.4%$742.79
118,750 at 6.41%$743.57
118,750 at 6.42%$744.34
118,750 at 6.43%$745.12
118,750 at 6.44%$745.90
118,750 at 6.45%$746.68
118,750 at 6.46%$747.46
118,750 at 6.47%$748.24
118,750 at 6.48%$749.02
118,750 at 6.49%$749.80
118,750 at 6.5%$750.58
Interest Rate 30 Year
118,750 at 6.51%$751.36
118,750 at 6.52%$752.14
118,750 at 6.53%$752.93
118,750 at 6.54%$753.71
118,750 at 6.55%$754.49
118,750 at 6.56%$755.27
118,750 at 6.57%$756.06
118,750 at 6.58%$756.84
118,750 at 6.59%$757.62
118,750 at 6.6%$758.41
118,750 at 6.61%$759.19
118,750 at 6.62%$759.98
118,750 at 6.63%$760.76
118,750 at 6.64%$761.55
118,750 at 6.65%$762.33
118,750 at 6.66%$763.12
118,750 at 6.67%$763.91
118,750 at 6.68%$764.69
118,750 at 6.69%$765.48
118,750 at 6.7%$766.27
118,750 at 6.71%$767.06
118,750 at 6.72%$767.84
118,750 at 6.73%$768.63
118,750 at 6.74%$769.42
118,750 at 6.75%$770.21
118,750 at 6.76%$771.00
118,750 at 6.77%$771.79
118,750 at 6.78%$772.58
118,750 at 6.79%$773.37
118,750 at 6.8%$774.16
118,750 at 6.81%$774.95
118,750 at 6.82%$775.74
118,750 at 6.83%$776.54
118,750 at 6.84%$777.33
118,750 at 6.85%$778.12
118,750 at 6.86%$778.91
118,750 at 6.87%$779.71
118,750 at 6.88%$780.50
118,750 at 6.89%$781.29
118,750 at 6.9%$782.09
118,750 at 6.91%$782.88
118,750 at 6.92%$783.68
118,750 at 6.93%$784.47
118,750 at 6.94%$785.27
118,750 at 6.95%$786.06
118,750 at 6.96%$786.86
118,750 at 6.97%$787.66
118,750 at 6.98%$788.45
118,750 at 6.99%$789.25
118,750 at 7%$790.05
118,750 at 7.01%$790.84
118,750 at 7.02%$791.64
118,750 at 7.03%$792.44
118,750 at 7.04%$793.24
118,750 at 7.05%$794.04
118,750 at 7.06%$794.84
118,750 at 7.07%$795.64
118,750 at 7.08%$796.44
118,750 at 7.09%$797.24
118,750 at 7.1%$798.04
118,750 at 7.11%$798.84
118,750 at 7.12%$799.64
118,750 at 7.13%$800.44
118,750 at 7.14%$801.24
118,750 at 7.15%$802.05
118,750 at 7.16%$802.85
118,750 at 7.17%$803.65
118,750 at 7.18%$804.45
118,750 at 7.19%$805.26
118,750 at 7.2%$806.06
118,750 at 7.21%$806.87
118,750 at 7.22%$807.67
118,750 at 7.23%$808.47
118,750 at 7.24%$809.28
118,750 at 7.25%$810.08
118,750 at 7.26%$810.89
118,750 at 7.27%$811.70
118,750 at 7.28%$812.50
118,750 at 7.29%$813.31
118,750 at 7.3%$814.12
118,750 at 7.31%$814.92
118,750 at 7.32%$815.73
118,750 at 7.33%$816.54
118,750 at 7.34%$817.35
118,750 at 7.35%$818.15
118,750 at 7.36%$818.96
118,750 at 7.37%$819.77
118,750 at 7.38%$820.58
118,750 at 7.39%$821.39
118,750 at 7.4%$822.20
118,750 at 7.41%$823.01
118,750 at 7.42%$823.82
118,750 at 7.43%$824.63
118,750 at 7.44%$825.44
118,750 at 7.45%$826.26
118,750 at 7.46%$827.07
118,750 at 7.47%$827.88
118,750 at 7.48%$828.69
118,750 at 7.49%$829.50
118,750 at 7.5%$830.32
118,750 at 7.51%$831.13
118,750 at 7.52%$831.94
118,750 at 7.53%$832.76
118,750 at 7.54%$833.57
118,750 at 7.55%$834.39
118,750 at 7.56%$835.20
118,750 at 7.57%$836.02
118,750 at 7.58%$836.83
118,750 at 7.59%$837.65
118,750 at 7.6%$838.46
118,750 at 7.61%$839.28
118,750 at 7.62%$840.10
118,750 at 7.63%$840.91
118,750 at 7.64%$841.73
118,750 at 7.65%$842.55
118,750 at 7.66%$843.37
118,750 at 7.67%$844.18
118,750 at 7.68%$845.00
118,750 at 7.69%$845.82
118,750 at 7.7%$846.64
118,750 at 7.71%$847.46
118,750 at 7.72%$848.28
118,750 at 7.73%$849.10
118,750 at 7.74%$849.92
118,750 at 7.75%$850.74
118,750 at 7.76%$851.56
118,750 at 7.77%$852.38
118,750 at 7.78%$853.20
118,750 at 7.79%$854.02
118,750 at 7.8%$854.85
118,750 at 7.81%$855.67
118,750 at 7.82%$856.49
118,750 at 7.83%$857.31
118,750 at 7.84%$858.14
118,750 at 7.85%$858.96
118,750 at 7.86%$859.78
118,750 at 7.87%$860.61
118,750 at 7.88%$861.43
118,750 at 7.89%$862.26
118,750 at 7.9%$863.08
118,750 at 7.91%$863.91
118,750 at 7.92%$864.73
118,750 at 7.93%$865.56
118,750 at 7.94%$866.38
118,750 at 7.95%$867.21
118,750 at 7.96%$868.04
118,750 at 7.97%$868.86
118,750 at 7.98%$869.69
118,750 at 7.99%$870.52
118,750 at 8%$871.35
More Amounts
What is the down payment for a $118,750 house? How much do you need to put down?
Percent Down Down Payment
1%1,188
2%2,375
3%3,563
4%4,750
5%5,938
6%7,125
7%8,313
8%9,500
9%10,688
10%11,875
11%13,063
12%14,250
13%15,438
14%16,625
15%17,813
16%19,000
17%20,188
18%21,375
19%22,563
20%23,750
Percent Down Down Payment
21%24,938
22%26,125
23%27,313
24%28,500
25%29,688
26%30,875
27%32,063
28%33,250
29%34,438
30%35,625
31%36,813
32%38,000
33%39,188
34%40,375
35%41,563
36%42,750
37%43,938
38%45,125
39%46,313
40%47,500
Percent Down Down Payment
41%48,688
42%49,875
43%51,063
44%52,250
45%53,438
46%54,625
47%55,813
48%57,000
49%58,188
50%59,375
51%60,563
52%61,750
53%62,938
54%64,125
55%65,313
56%66,500
57%67,688
58%68,875
59%70,063
60%71,250
Percent Down Down Payment
61%72,438
62%73,625
63%74,813
64%76,000
65%77,188
66%78,375
67%79,563
68%80,750
69%81,938
70%83,125
71%84,313
72%85,500
73%86,688
74%87,875
75%89,063
76%90,250
77%91,438
78%92,625
79%93,813
80%95,000
Percent Down Down Payment
81%96,188
82%97,375
83%98,563
84%99,750
85%100,938
86%102,125
87%103,313
88%104,500
89%105,688
90%106,875
91%108,063
92%109,250
93%110,438
94%111,625
95%112,813
96%114,000
97%115,188
98%116,375
99%117,563
100%118,750
Common Loan Vocabulary Terms
APR Annual Percentage Rate, the annual cost of borrowing or lending money.
PMI Private Mortgage Insurance. A downpayment less than 20% often requires that the borrower purchase PMI. This increases the overall monthly payment.
Property Taxes Taxes charged by the local government to the owner of the property. This is often charged as a percentage of the assessed value of the property.
Insurance Home insurance protects your property against damage. Flood insurance is often recommended for some areas of the country. Individuals with a high net worth might consider an umbrella policy.
HOA Homeowners' Association. Usually part of a condo development or subdivision. The HOA often sets the rules, takes care of common maintenance, and charges a fee.
Mortgage Refinance After mortgage rates have decreased, it is often possible to get a new mortgage at a lower rate. This is a loan refinance and can save lots of money.