$40,950 Mortgage for 30 Years

What is the monthly payment of a 40,950 dollar loan?
$
$
%
%
years
Loan Tables for a $40,950 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 41k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $40,950 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
40,950 at 2.01%$151.56
40,950 at 2.02%$151.77
40,950 at 2.03%$151.97
40,950 at 2.04%$152.18
40,950 at 2.05%$152.39
40,950 at 2.06%$152.59
40,950 at 2.07%$152.80
40,950 at 2.08%$153.00
40,950 at 2.09%$153.21
40,950 at 2.1%$153.42
40,950 at 2.11%$153.62
40,950 at 2.12%$153.83
40,950 at 2.13%$154.04
40,950 at 2.14%$154.24
40,950 at 2.15%$154.45
40,950 at 2.16%$154.66
40,950 at 2.17%$154.86
40,950 at 2.18%$155.07
40,950 at 2.19%$155.28
40,950 at 2.2%$155.49
40,950 at 2.21%$155.70
40,950 at 2.22%$155.90
40,950 at 2.23%$156.11
40,950 at 2.24%$156.32
40,950 at 2.25%$156.53
40,950 at 2.26%$156.74
40,950 at 2.27%$156.95
40,950 at 2.28%$157.16
40,950 at 2.29%$157.37
40,950 at 2.3%$157.58
40,950 at 2.31%$157.79
40,950 at 2.32%$158.00
40,950 at 2.33%$158.21
40,950 at 2.34%$158.42
40,950 at 2.35%$158.63
40,950 at 2.36%$158.84
40,950 at 2.37%$159.05
40,950 at 2.38%$159.26
40,950 at 2.39%$159.47
40,950 at 2.4%$159.68
40,950 at 2.41%$159.89
40,950 at 2.42%$160.10
40,950 at 2.43%$160.32
40,950 at 2.44%$160.53
40,950 at 2.45%$160.74
40,950 at 2.46%$160.95
40,950 at 2.47%$161.16
40,950 at 2.48%$161.38
40,950 at 2.49%$161.59
40,950 at 2.5%$161.80
40,950 at 2.51%$162.01
40,950 at 2.52%$162.23
40,950 at 2.53%$162.44
40,950 at 2.54%$162.65
40,950 at 2.55%$162.87
40,950 at 2.56%$163.08
40,950 at 2.57%$163.30
40,950 at 2.58%$163.51
40,950 at 2.59%$163.72
40,950 at 2.6%$163.94
40,950 at 2.61%$164.15
40,950 at 2.62%$164.37
40,950 at 2.63%$164.58
40,950 at 2.64%$164.80
40,950 at 2.65%$165.01
40,950 at 2.66%$165.23
40,950 at 2.67%$165.44
40,950 at 2.68%$165.66
40,950 at 2.69%$165.88
40,950 at 2.7%$166.09
40,950 at 2.71%$166.31
40,950 at 2.72%$166.52
40,950 at 2.73%$166.74
40,950 at 2.74%$166.96
40,950 at 2.75%$167.17
40,950 at 2.76%$167.39
40,950 at 2.77%$167.61
40,950 at 2.78%$167.83
40,950 at 2.79%$168.04
40,950 at 2.8%$168.26
40,950 at 2.81%$168.48
40,950 at 2.82%$168.70
40,950 at 2.83%$168.92
40,950 at 2.84%$169.13
40,950 at 2.85%$169.35
40,950 at 2.86%$169.57
40,950 at 2.87%$169.79
40,950 at 2.88%$170.01
40,950 at 2.89%$170.23
40,950 at 2.9%$170.45
40,950 at 2.91%$170.67
40,950 at 2.92%$170.89
40,950 at 2.93%$171.10
40,950 at 2.94%$171.32
40,950 at 2.95%$171.54
40,950 at 2.96%$171.76
40,950 at 2.97%$171.98
40,950 at 2.98%$172.21
40,950 at 2.99%$172.43
40,950 at 3%$172.65
40,950 at 3.01%$172.87
40,950 at 3.02%$173.09
40,950 at 3.03%$173.31
40,950 at 3.04%$173.53
40,950 at 3.05%$173.75
40,950 at 3.06%$173.97
40,950 at 3.07%$174.20
40,950 at 3.08%$174.42
40,950 at 3.09%$174.64
40,950 at 3.1%$174.86
40,950 at 3.11%$175.09
40,950 at 3.12%$175.31
40,950 at 3.13%$175.53
40,950 at 3.14%$175.75
40,950 at 3.15%$175.98
40,950 at 3.16%$176.20
40,950 at 3.17%$176.42
40,950 at 3.18%$176.65
40,950 at 3.19%$176.87
40,950 at 3.2%$177.10
40,950 at 3.21%$177.32
40,950 at 3.22%$177.54
40,950 at 3.23%$177.77
40,950 at 3.24%$177.99
40,950 at 3.25%$178.22
40,950 at 3.26%$178.44
40,950 at 3.27%$178.67
40,950 at 3.28%$178.89
40,950 at 3.29%$179.12
40,950 at 3.3%$179.34
40,950 at 3.31%$179.57
40,950 at 3.32%$179.79
40,950 at 3.33%$180.02
40,950 at 3.34%$180.25
40,950 at 3.35%$180.47
40,950 at 3.36%$180.70
40,950 at 3.37%$180.93
40,950 at 3.38%$181.15
40,950 at 3.39%$181.38
40,950 at 3.4%$181.61
40,950 at 3.41%$181.83
40,950 at 3.42%$182.06
40,950 at 3.43%$182.29
40,950 at 3.44%$182.52
40,950 at 3.45%$182.74
40,950 at 3.46%$182.97
40,950 at 3.47%$183.20
40,950 at 3.48%$183.43
40,950 at 3.49%$183.66
40,950 at 3.5%$183.88
Interest Rate 30 Year
40,950 at 3.51%$184.11
40,950 at 3.52%$184.34
40,950 at 3.53%$184.57
40,950 at 3.54%$184.80
40,950 at 3.55%$185.03
40,950 at 3.56%$185.26
40,950 at 3.57%$185.49
40,950 at 3.58%$185.72
40,950 at 3.59%$185.95
40,950 at 3.6%$186.18
40,950 at 3.61%$186.41
40,950 at 3.62%$186.64
40,950 at 3.63%$186.87
40,950 at 3.64%$187.10
40,950 at 3.65%$187.33
40,950 at 3.66%$187.56
40,950 at 3.67%$187.79
40,950 at 3.68%$188.02
40,950 at 3.69%$188.25
40,950 at 3.7%$188.49
40,950 at 3.71%$188.72
40,950 at 3.72%$188.95
40,950 at 3.73%$189.18
40,950 at 3.74%$189.41
40,950 at 3.75%$189.65
40,950 at 3.76%$189.88
40,950 at 3.77%$190.11
40,950 at 3.78%$190.34
40,950 at 3.79%$190.58
40,950 at 3.8%$190.81
40,950 at 3.81%$191.04
40,950 at 3.82%$191.28
40,950 at 3.83%$191.51
40,950 at 3.84%$191.74
40,950 at 3.85%$191.98
40,950 at 3.86%$192.21
40,950 at 3.87%$192.44
40,950 at 3.88%$192.68
40,950 at 3.89%$192.91
40,950 at 3.9%$193.15
40,950 at 3.91%$193.38
40,950 at 3.92%$193.62
40,950 at 3.93%$193.85
40,950 at 3.94%$194.09
40,950 at 3.95%$194.32
40,950 at 3.96%$194.56
40,950 at 3.97%$194.79
40,950 at 3.98%$195.03
40,950 at 3.99%$195.27
40,950 at 4%$195.50
40,950 at 4.01%$195.74
40,950 at 4.02%$195.97
40,950 at 4.03%$196.21
40,950 at 4.04%$196.45
40,950 at 4.05%$196.68
40,950 at 4.06%$196.92
40,950 at 4.07%$197.16
40,950 at 4.08%$197.39
40,950 at 4.09%$197.63
40,950 at 4.1%$197.87
40,950 at 4.11%$198.11
40,950 at 4.12%$198.35
40,950 at 4.13%$198.58
40,950 at 4.14%$198.82
40,950 at 4.15%$199.06
40,950 at 4.16%$199.30
40,950 at 4.17%$199.54
40,950 at 4.18%$199.77
40,950 at 4.19%$200.01
40,950 at 4.2%$200.25
40,950 at 4.21%$200.49
40,950 at 4.22%$200.73
40,950 at 4.23%$200.97
40,950 at 4.24%$201.21
40,950 at 4.25%$201.45
40,950 at 4.26%$201.69
40,950 at 4.27%$201.93
40,950 at 4.28%$202.17
40,950 at 4.29%$202.41
40,950 at 4.3%$202.65
40,950 at 4.31%$202.89
40,950 at 4.32%$203.13
40,950 at 4.33%$203.37
40,950 at 4.34%$203.61
40,950 at 4.35%$203.85
40,950 at 4.36%$204.10
40,950 at 4.37%$204.34
40,950 at 4.38%$204.58
40,950 at 4.39%$204.82
40,950 at 4.4%$205.06
40,950 at 4.41%$205.30
40,950 at 4.42%$205.55
40,950 at 4.43%$205.79
40,950 at 4.44%$206.03
40,950 at 4.45%$206.27
40,950 at 4.46%$206.52
40,950 at 4.47%$206.76
40,950 at 4.48%$207.00
40,950 at 4.49%$207.24
40,950 at 4.5%$207.49
40,950 at 4.51%$207.73
40,950 at 4.52%$207.97
40,950 at 4.53%$208.22
40,950 at 4.54%$208.46
40,950 at 4.55%$208.71
40,950 at 4.56%$208.95
40,950 at 4.57%$209.19
40,950 at 4.58%$209.44
40,950 at 4.59%$209.68
40,950 at 4.6%$209.93
40,950 at 4.61%$210.17
40,950 at 4.62%$210.42
40,950 at 4.63%$210.66
40,950 at 4.64%$210.91
40,950 at 4.65%$211.15
40,950 at 4.66%$211.40
40,950 at 4.67%$211.64
40,950 at 4.68%$211.89
40,950 at 4.69%$212.14
40,950 at 4.7%$212.38
40,950 at 4.71%$212.63
40,950 at 4.72%$212.87
40,950 at 4.73%$213.12
40,950 at 4.74%$213.37
40,950 at 4.75%$213.61
40,950 at 4.76%$213.86
40,950 at 4.77%$214.11
40,950 at 4.78%$214.36
40,950 at 4.79%$214.60
40,950 at 4.8%$214.85
40,950 at 4.81%$215.10
40,950 at 4.82%$215.35
40,950 at 4.83%$215.59
40,950 at 4.84%$215.84
40,950 at 4.85%$216.09
40,950 at 4.86%$216.34
40,950 at 4.87%$216.59
40,950 at 4.88%$216.84
40,950 at 4.89%$217.08
40,950 at 4.9%$217.33
40,950 at 4.91%$217.58
40,950 at 4.92%$217.83
40,950 at 4.93%$218.08
40,950 at 4.94%$218.33
40,950 at 4.95%$218.58
40,950 at 4.96%$218.83
40,950 at 4.97%$219.08
40,950 at 4.98%$219.33
40,950 at 4.99%$219.58
40,950 at 5%$219.83
Interest Rate 30 Year
40,950 at 5.01%$220.08
40,950 at 5.02%$220.33
40,950 at 5.03%$220.58
40,950 at 5.04%$220.83
40,950 at 5.05%$221.08
40,950 at 5.06%$221.33
40,950 at 5.07%$221.58
40,950 at 5.08%$221.83
40,950 at 5.09%$222.09
40,950 at 5.1%$222.34
40,950 at 5.11%$222.59
40,950 at 5.12%$222.84
40,950 at 5.13%$223.09
40,950 at 5.14%$223.35
40,950 at 5.15%$223.60
40,950 at 5.16%$223.85
40,950 at 5.17%$224.10
40,950 at 5.18%$224.36
40,950 at 5.19%$224.61
40,950 at 5.2%$224.86
40,950 at 5.21%$225.11
40,950 at 5.22%$225.37
40,950 at 5.23%$225.62
40,950 at 5.24%$225.87
40,950 at 5.25%$226.13
40,950 at 5.26%$226.38
40,950 at 5.27%$226.63
40,950 at 5.28%$226.89
40,950 at 5.29%$227.14
40,950 at 5.3%$227.40
40,950 at 5.31%$227.65
40,950 at 5.32%$227.91
40,950 at 5.33%$228.16
40,950 at 5.34%$228.42
40,950 at 5.35%$228.67
40,950 at 5.36%$228.93
40,950 at 5.37%$229.18
40,950 at 5.38%$229.44
40,950 at 5.39%$229.69
40,950 at 5.4%$229.95
40,950 at 5.41%$230.20
40,950 at 5.42%$230.46
40,950 at 5.43%$230.71
40,950 at 5.44%$230.97
40,950 at 5.45%$231.23
40,950 at 5.46%$231.48
40,950 at 5.47%$231.74
40,950 at 5.48%$232.00
40,950 at 5.49%$232.25
40,950 at 5.5%$232.51
40,950 at 5.51%$232.77
40,950 at 5.52%$233.02
40,950 at 5.53%$233.28
40,950 at 5.54%$233.54
40,950 at 5.55%$233.80
40,950 at 5.56%$234.05
40,950 at 5.57%$234.31
40,950 at 5.58%$234.57
40,950 at 5.59%$234.83
40,950 at 5.6%$235.09
40,950 at 5.61%$235.34
40,950 at 5.62%$235.60
40,950 at 5.63%$235.86
40,950 at 5.64%$236.12
40,950 at 5.65%$236.38
40,950 at 5.66%$236.64
40,950 at 5.67%$236.90
40,950 at 5.68%$237.16
40,950 at 5.69%$237.41
40,950 at 5.7%$237.67
40,950 at 5.71%$237.93
40,950 at 5.72%$238.19
40,950 at 5.73%$238.45
40,950 at 5.74%$238.71
40,950 at 5.75%$238.97
40,950 at 5.76%$239.23
40,950 at 5.77%$239.49
40,950 at 5.78%$239.75
40,950 at 5.79%$240.01
40,950 at 5.8%$240.28
40,950 at 5.81%$240.54
40,950 at 5.82%$240.80
40,950 at 5.83%$241.06
40,950 at 5.84%$241.32
40,950 at 5.85%$241.58
40,950 at 5.86%$241.84
40,950 at 5.87%$242.10
40,950 at 5.88%$242.37
40,950 at 5.89%$242.63
40,950 at 5.9%$242.89
40,950 at 5.91%$243.15
40,950 at 5.92%$243.41
40,950 at 5.93%$243.68
40,950 at 5.94%$243.94
40,950 at 5.95%$244.20
40,950 at 5.96%$244.46
40,950 at 5.97%$244.73
40,950 at 5.98%$244.99
40,950 at 5.99%$245.25
40,950 at 6%$245.52
40,950 at 6.01%$245.78
40,950 at 6.02%$246.04
40,950 at 6.03%$246.31
40,950 at 6.04%$246.57
40,950 at 6.05%$246.83
40,950 at 6.06%$247.10
40,950 at 6.07%$247.36
40,950 at 6.08%$247.63
40,950 at 6.09%$247.89
40,950 at 6.1%$248.15
40,950 at 6.11%$248.42
40,950 at 6.12%$248.68
40,950 at 6.13%$248.95
40,950 at 6.14%$249.21
40,950 at 6.15%$249.48
40,950 at 6.16%$249.74
40,950 at 6.17%$250.01
40,950 at 6.18%$250.27
40,950 at 6.19%$250.54
40,950 at 6.2%$250.81
40,950 at 6.21%$251.07
40,950 at 6.22%$251.34
40,950 at 6.23%$251.60
40,950 at 6.24%$251.87
40,950 at 6.25%$252.14
40,950 at 6.26%$252.40
40,950 at 6.27%$252.67
40,950 at 6.28%$252.94
40,950 at 6.29%$253.20
40,950 at 6.3%$253.47
40,950 at 6.31%$253.74
40,950 at 6.32%$254.00
40,950 at 6.33%$254.27
40,950 at 6.34%$254.54
40,950 at 6.35%$254.81
40,950 at 6.36%$255.07
40,950 at 6.37%$255.34
40,950 at 6.38%$255.61
40,950 at 6.39%$255.88
40,950 at 6.4%$256.14
40,950 at 6.41%$256.41
40,950 at 6.42%$256.68
40,950 at 6.43%$256.95
40,950 at 6.44%$257.22
40,950 at 6.45%$257.49
40,950 at 6.46%$257.76
40,950 at 6.47%$258.02
40,950 at 6.48%$258.29
40,950 at 6.49%$258.56
40,950 at 6.5%$258.83
Interest Rate 30 Year
40,950 at 6.51%$259.10
40,950 at 6.52%$259.37
40,950 at 6.53%$259.64
40,950 at 6.54%$259.91
40,950 at 6.55%$260.18
40,950 at 6.56%$260.45
40,950 at 6.57%$260.72
40,950 at 6.58%$260.99
40,950 at 6.59%$261.26
40,950 at 6.6%$261.53
40,950 at 6.61%$261.80
40,950 at 6.62%$262.07
40,950 at 6.63%$262.34
40,950 at 6.64%$262.61
40,950 at 6.65%$262.88
40,950 at 6.66%$263.16
40,950 at 6.67%$263.43
40,950 at 6.68%$263.70
40,950 at 6.69%$263.97
40,950 at 6.7%$264.24
40,950 at 6.71%$264.51
40,950 at 6.72%$264.78
40,950 at 6.73%$265.06
40,950 at 6.74%$265.33
40,950 at 6.75%$265.60
40,950 at 6.76%$265.87
40,950 at 6.77%$266.15
40,950 at 6.78%$266.42
40,950 at 6.79%$266.69
40,950 at 6.8%$266.96
40,950 at 6.81%$267.24
40,950 at 6.82%$267.51
40,950 at 6.83%$267.78
40,950 at 6.84%$268.06
40,950 at 6.85%$268.33
40,950 at 6.86%$268.60
40,950 at 6.87%$268.88
40,950 at 6.88%$269.15
40,950 at 6.89%$269.42
40,950 at 6.9%$269.70
40,950 at 6.91%$269.97
40,950 at 6.92%$270.24
40,950 at 6.93%$270.52
40,950 at 6.94%$270.79
40,950 at 6.95%$271.07
40,950 at 6.96%$271.34
40,950 at 6.97%$271.62
40,950 at 6.98%$271.89
40,950 at 6.99%$272.17
40,950 at 7%$272.44
40,950 at 7.01%$272.72
40,950 at 7.02%$272.99
40,950 at 7.03%$273.27
40,950 at 7.04%$273.54
40,950 at 7.05%$273.82
40,950 at 7.06%$274.09
40,950 at 7.07%$274.37
40,950 at 7.08%$274.65
40,950 at 7.09%$274.92
40,950 at 7.1%$275.20
40,950 at 7.11%$275.47
40,950 at 7.12%$275.75
40,950 at 7.13%$276.03
40,950 at 7.14%$276.30
40,950 at 7.15%$276.58
40,950 at 7.16%$276.86
40,950 at 7.17%$277.13
40,950 at 7.18%$277.41
40,950 at 7.19%$277.69
40,950 at 7.2%$277.96
40,950 at 7.21%$278.24
40,950 at 7.22%$278.52
40,950 at 7.23%$278.80
40,950 at 7.24%$279.07
40,950 at 7.25%$279.35
40,950 at 7.26%$279.63
40,950 at 7.27%$279.91
40,950 at 7.28%$280.18
40,950 at 7.29%$280.46
40,950 at 7.3%$280.74
40,950 at 7.31%$281.02
40,950 at 7.32%$281.30
40,950 at 7.33%$281.58
40,950 at 7.34%$281.86
40,950 at 7.35%$282.13
40,950 at 7.36%$282.41
40,950 at 7.37%$282.69
40,950 at 7.38%$282.97
40,950 at 7.39%$283.25
40,950 at 7.4%$283.53
40,950 at 7.41%$283.81
40,950 at 7.42%$284.09
40,950 at 7.43%$284.37
40,950 at 7.44%$284.65
40,950 at 7.45%$284.93
40,950 at 7.46%$285.21
40,950 at 7.47%$285.49
40,950 at 7.48%$285.77
40,950 at 7.49%$286.05
40,950 at 7.5%$286.33
40,950 at 7.51%$286.61
40,950 at 7.52%$286.89
40,950 at 7.53%$287.17
40,950 at 7.54%$287.45
40,950 at 7.55%$287.73
40,950 at 7.56%$288.01
40,950 at 7.57%$288.29
40,950 at 7.58%$288.57
40,950 at 7.59%$288.86
40,950 at 7.6%$289.14
40,950 at 7.61%$289.42
40,950 at 7.62%$289.70
40,950 at 7.63%$289.98
40,950 at 7.64%$290.26
40,950 at 7.65%$290.55
40,950 at 7.66%$290.83
40,950 at 7.67%$291.11
40,950 at 7.68%$291.39
40,950 at 7.69%$291.67
40,950 at 7.7%$291.96
40,950 at 7.71%$292.24
40,950 at 7.72%$292.52
40,950 at 7.73%$292.81
40,950 at 7.74%$293.09
40,950 at 7.75%$293.37
40,950 at 7.76%$293.65
40,950 at 7.77%$293.94
40,950 at 7.78%$294.22
40,950 at 7.79%$294.50
40,950 at 7.8%$294.79
40,950 at 7.81%$295.07
40,950 at 7.82%$295.35
40,950 at 7.83%$295.64
40,950 at 7.84%$295.92
40,950 at 7.85%$296.21
40,950 at 7.86%$296.49
40,950 at 7.87%$296.77
40,950 at 7.88%$297.06
40,950 at 7.89%$297.34
40,950 at 7.9%$297.63
40,950 at 7.91%$297.91
40,950 at 7.92%$298.20
40,950 at 7.93%$298.48
40,950 at 7.94%$298.77
40,950 at 7.95%$299.05
40,950 at 7.96%$299.34
40,950 at 7.97%$299.62
40,950 at 7.98%$299.91
40,950 at 7.99%$300.19
40,950 at 8%$300.48
More Amounts
What is the down payment for a $40,950 house? How much do you need to put down?
Percent Down Down Payment
1%410
2%819
3%1,229
4%1,638
5%2,048
6%2,457
7%2,867
8%3,276
9%3,686
10%4,095
11%4,505
12%4,914
13%5,324
14%5,733
15%6,143
16%6,552
17%6,962
18%7,371
19%7,781
20%8,190
Percent Down Down Payment
21%8,600
22%9,009
23%9,419
24%9,828
25%10,238
26%10,647
27%11,057
28%11,466
29%11,876
30%12,285
31%12,695
32%13,104
33%13,514
34%13,923
35%14,333
36%14,742
37%15,152
38%15,561
39%15,971
40%16,380
Percent Down Down Payment
41%16,790
42%17,199
43%17,609
44%18,018
45%18,428
46%18,837
47%19,247
48%19,656
49%20,066
50%20,475
51%20,885
52%21,294
53%21,704
54%22,113
55%22,523
56%22,932
57%23,342
58%23,751
59%24,161
60%24,570
Percent Down Down Payment
61%24,980
62%25,389
63%25,799
64%26,208
65%26,618
66%27,027
67%27,437
68%27,846
69%28,256
70%28,665
71%29,075
72%29,484
73%29,894
74%30,303
75%30,713
76%31,122
77%31,532
78%31,941
79%32,351
80%32,760
Percent Down Down Payment
81%33,170
82%33,579
83%33,989
84%34,398
85%34,808
86%35,217
87%35,627
88%36,036
89%36,446
90%36,855
91%37,265
92%37,674
93%38,084
94%38,493
95%38,903
96%39,312
97%39,722
98%40,131
99%40,541
100%40,950
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.