$42,500 Mortgage for 30 Years

What is the monthly payment of a 42,500 dollar loan?
$
$
%
%
years
Loan Tables for a $42,500 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 43k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $42,500 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
42,500 at 2.01%$157.30
42,500 at 2.02%$157.51
42,500 at 2.03%$157.73
42,500 at 2.04%$157.94
42,500 at 2.05%$158.15
42,500 at 2.06%$158.37
42,500 at 2.07%$158.58
42,500 at 2.08%$158.79
42,500 at 2.09%$159.01
42,500 at 2.1%$159.22
42,500 at 2.11%$159.44
42,500 at 2.12%$159.65
42,500 at 2.13%$159.87
42,500 at 2.14%$160.08
42,500 at 2.15%$160.30
42,500 at 2.16%$160.51
42,500 at 2.17%$160.73
42,500 at 2.18%$160.94
42,500 at 2.19%$161.16
42,500 at 2.2%$161.37
42,500 at 2.21%$161.59
42,500 at 2.22%$161.81
42,500 at 2.23%$162.02
42,500 at 2.24%$162.24
42,500 at 2.25%$162.45
42,500 at 2.26%$162.67
42,500 at 2.27%$162.89
42,500 at 2.28%$163.11
42,500 at 2.29%$163.32
42,500 at 2.3%$163.54
42,500 at 2.31%$163.76
42,500 at 2.32%$163.98
42,500 at 2.33%$164.19
42,500 at 2.34%$164.41
42,500 at 2.35%$164.63
42,500 at 2.36%$164.85
42,500 at 2.37%$165.07
42,500 at 2.38%$165.29
42,500 at 2.39%$165.51
42,500 at 2.4%$165.73
42,500 at 2.41%$165.94
42,500 at 2.42%$166.16
42,500 at 2.43%$166.38
42,500 at 2.44%$166.60
42,500 at 2.45%$166.82
42,500 at 2.46%$167.04
42,500 at 2.47%$167.26
42,500 at 2.48%$167.48
42,500 at 2.49%$167.71
42,500 at 2.5%$167.93
42,500 at 2.51%$168.15
42,500 at 2.52%$168.37
42,500 at 2.53%$168.59
42,500 at 2.54%$168.81
42,500 at 2.55%$169.03
42,500 at 2.56%$169.26
42,500 at 2.57%$169.48
42,500 at 2.58%$169.70
42,500 at 2.59%$169.92
42,500 at 2.6%$170.14
42,500 at 2.61%$170.37
42,500 at 2.62%$170.59
42,500 at 2.63%$170.81
42,500 at 2.64%$171.04
42,500 at 2.65%$171.26
42,500 at 2.66%$171.48
42,500 at 2.67%$171.71
42,500 at 2.68%$171.93
42,500 at 2.69%$172.15
42,500 at 2.7%$172.38
42,500 at 2.71%$172.60
42,500 at 2.72%$172.83
42,500 at 2.73%$173.05
42,500 at 2.74%$173.28
42,500 at 2.75%$173.50
42,500 at 2.76%$173.73
42,500 at 2.77%$173.95
42,500 at 2.78%$174.18
42,500 at 2.79%$174.40
42,500 at 2.8%$174.63
42,500 at 2.81%$174.86
42,500 at 2.82%$175.08
42,500 at 2.83%$175.31
42,500 at 2.84%$175.54
42,500 at 2.85%$175.76
42,500 at 2.86%$175.99
42,500 at 2.87%$176.22
42,500 at 2.88%$176.44
42,500 at 2.89%$176.67
42,500 at 2.9%$176.90
42,500 at 2.91%$177.13
42,500 at 2.92%$177.35
42,500 at 2.93%$177.58
42,500 at 2.94%$177.81
42,500 at 2.95%$178.04
42,500 at 2.96%$178.27
42,500 at 2.97%$178.49
42,500 at 2.98%$178.72
42,500 at 2.99%$178.95
42,500 at 3%$179.18
42,500 at 3.01%$179.41
42,500 at 3.02%$179.64
42,500 at 3.03%$179.87
42,500 at 3.04%$180.10
42,500 at 3.05%$180.33
42,500 at 3.06%$180.56
42,500 at 3.07%$180.79
42,500 at 3.08%$181.02
42,500 at 3.09%$181.25
42,500 at 3.1%$181.48
42,500 at 3.11%$181.71
42,500 at 3.12%$181.94
42,500 at 3.13%$182.18
42,500 at 3.14%$182.41
42,500 at 3.15%$182.64
42,500 at 3.16%$182.87
42,500 at 3.17%$183.10
42,500 at 3.18%$183.33
42,500 at 3.19%$183.57
42,500 at 3.2%$183.80
42,500 at 3.21%$184.03
42,500 at 3.22%$184.26
42,500 at 3.23%$184.50
42,500 at 3.24%$184.73
42,500 at 3.25%$184.96
42,500 at 3.26%$185.20
42,500 at 3.27%$185.43
42,500 at 3.28%$185.66
42,500 at 3.29%$185.90
42,500 at 3.3%$186.13
42,500 at 3.31%$186.37
42,500 at 3.32%$186.60
42,500 at 3.33%$186.83
42,500 at 3.34%$187.07
42,500 at 3.35%$187.30
42,500 at 3.36%$187.54
42,500 at 3.37%$187.77
42,500 at 3.38%$188.01
42,500 at 3.39%$188.24
42,500 at 3.4%$188.48
42,500 at 3.41%$188.72
42,500 at 3.42%$188.95
42,500 at 3.43%$189.19
42,500 at 3.44%$189.42
42,500 at 3.45%$189.66
42,500 at 3.46%$189.90
42,500 at 3.47%$190.13
42,500 at 3.48%$190.37
42,500 at 3.49%$190.61
42,500 at 3.5%$190.84
Interest Rate 30 Year
42,500 at 3.51%$191.08
42,500 at 3.52%$191.32
42,500 at 3.53%$191.56
42,500 at 3.54%$191.79
42,500 at 3.55%$192.03
42,500 at 3.56%$192.27
42,500 at 3.57%$192.51
42,500 at 3.58%$192.75
42,500 at 3.59%$192.99
42,500 at 3.6%$193.22
42,500 at 3.61%$193.46
42,500 at 3.62%$193.70
42,500 at 3.63%$193.94
42,500 at 3.64%$194.18
42,500 at 3.65%$194.42
42,500 at 3.66%$194.66
42,500 at 3.67%$194.90
42,500 at 3.68%$195.14
42,500 at 3.69%$195.38
42,500 at 3.7%$195.62
42,500 at 3.71%$195.86
42,500 at 3.72%$196.10
42,500 at 3.73%$196.34
42,500 at 3.74%$196.58
42,500 at 3.75%$196.82
42,500 at 3.76%$197.07
42,500 at 3.77%$197.31
42,500 at 3.78%$197.55
42,500 at 3.79%$197.79
42,500 at 3.8%$198.03
42,500 at 3.81%$198.27
42,500 at 3.82%$198.52
42,500 at 3.83%$198.76
42,500 at 3.84%$199.00
42,500 at 3.85%$199.24
42,500 at 3.86%$199.49
42,500 at 3.87%$199.73
42,500 at 3.88%$199.97
42,500 at 3.89%$200.22
42,500 at 3.9%$200.46
42,500 at 3.91%$200.70
42,500 at 3.92%$200.95
42,500 at 3.93%$201.19
42,500 at 3.94%$201.43
42,500 at 3.95%$201.68
42,500 at 3.96%$201.92
42,500 at 3.97%$202.17
42,500 at 3.98%$202.41
42,500 at 3.99%$202.66
42,500 at 4%$202.90
42,500 at 4.01%$203.15
42,500 at 4.02%$203.39
42,500 at 4.03%$203.64
42,500 at 4.04%$203.88
42,500 at 4.05%$204.13
42,500 at 4.06%$204.37
42,500 at 4.07%$204.62
42,500 at 4.08%$204.87
42,500 at 4.09%$205.11
42,500 at 4.1%$205.36
42,500 at 4.11%$205.61
42,500 at 4.12%$205.85
42,500 at 4.13%$206.10
42,500 at 4.14%$206.35
42,500 at 4.15%$206.59
42,500 at 4.16%$206.84
42,500 at 4.17%$207.09
42,500 at 4.18%$207.34
42,500 at 4.19%$207.58
42,500 at 4.2%$207.83
42,500 at 4.21%$208.08
42,500 at 4.22%$208.33
42,500 at 4.23%$208.58
42,500 at 4.24%$208.83
42,500 at 4.25%$209.07
42,500 at 4.26%$209.32
42,500 at 4.27%$209.57
42,500 at 4.28%$209.82
42,500 at 4.29%$210.07
42,500 at 4.3%$210.32
42,500 at 4.31%$210.57
42,500 at 4.32%$210.82
42,500 at 4.33%$211.07
42,500 at 4.34%$211.32
42,500 at 4.35%$211.57
42,500 at 4.36%$211.82
42,500 at 4.37%$212.07
42,500 at 4.38%$212.32
42,500 at 4.39%$212.57
42,500 at 4.4%$212.82
42,500 at 4.41%$213.07
42,500 at 4.42%$213.33
42,500 at 4.43%$213.58
42,500 at 4.44%$213.83
42,500 at 4.45%$214.08
42,500 at 4.46%$214.33
42,500 at 4.47%$214.58
42,500 at 4.48%$214.84
42,500 at 4.49%$215.09
42,500 at 4.5%$215.34
42,500 at 4.51%$215.59
42,500 at 4.52%$215.85
42,500 at 4.53%$216.10
42,500 at 4.54%$216.35
42,500 at 4.55%$216.61
42,500 at 4.56%$216.86
42,500 at 4.57%$217.11
42,500 at 4.58%$217.37
42,500 at 4.59%$217.62
42,500 at 4.6%$217.87
42,500 at 4.61%$218.13
42,500 at 4.62%$218.38
42,500 at 4.63%$218.64
42,500 at 4.64%$218.89
42,500 at 4.65%$219.15
42,500 at 4.66%$219.40
42,500 at 4.67%$219.66
42,500 at 4.68%$219.91
42,500 at 4.69%$220.17
42,500 at 4.7%$220.42
42,500 at 4.71%$220.68
42,500 at 4.72%$220.93
42,500 at 4.73%$221.19
42,500 at 4.74%$221.44
42,500 at 4.75%$221.70
42,500 at 4.76%$221.96
42,500 at 4.77%$222.21
42,500 at 4.78%$222.47
42,500 at 4.79%$222.73
42,500 at 4.8%$222.98
42,500 at 4.81%$223.24
42,500 at 4.82%$223.50
42,500 at 4.83%$223.75
42,500 at 4.84%$224.01
42,500 at 4.85%$224.27
42,500 at 4.86%$224.53
42,500 at 4.87%$224.78
42,500 at 4.88%$225.04
42,500 at 4.89%$225.30
42,500 at 4.9%$225.56
42,500 at 4.91%$225.82
42,500 at 4.92%$226.08
42,500 at 4.93%$226.33
42,500 at 4.94%$226.59
42,500 at 4.95%$226.85
42,500 at 4.96%$227.11
42,500 at 4.97%$227.37
42,500 at 4.98%$227.63
42,500 at 4.99%$227.89
42,500 at 5%$228.15
Interest Rate 30 Year
42,500 at 5.01%$228.41
42,500 at 5.02%$228.67
42,500 at 5.03%$228.93
42,500 at 5.04%$229.19
42,500 at 5.05%$229.45
42,500 at 5.06%$229.71
42,500 at 5.07%$229.97
42,500 at 5.08%$230.23
42,500 at 5.09%$230.49
42,500 at 5.1%$230.75
42,500 at 5.11%$231.01
42,500 at 5.12%$231.28
42,500 at 5.13%$231.54
42,500 at 5.14%$231.80
42,500 at 5.15%$232.06
42,500 at 5.16%$232.32
42,500 at 5.17%$232.59
42,500 at 5.18%$232.85
42,500 at 5.19%$233.11
42,500 at 5.2%$233.37
42,500 at 5.21%$233.63
42,500 at 5.22%$233.90
42,500 at 5.23%$234.16
42,500 at 5.24%$234.42
42,500 at 5.25%$234.69
42,500 at 5.26%$234.95
42,500 at 5.27%$235.21
42,500 at 5.28%$235.48
42,500 at 5.29%$235.74
42,500 at 5.3%$236.00
42,500 at 5.31%$236.27
42,500 at 5.32%$236.53
42,500 at 5.33%$236.80
42,500 at 5.34%$237.06
42,500 at 5.35%$237.33
42,500 at 5.36%$237.59
42,500 at 5.37%$237.86
42,500 at 5.38%$238.12
42,500 at 5.39%$238.39
42,500 at 5.4%$238.65
42,500 at 5.41%$238.92
42,500 at 5.42%$239.18
42,500 at 5.43%$239.45
42,500 at 5.44%$239.71
42,500 at 5.45%$239.98
42,500 at 5.46%$240.24
42,500 at 5.47%$240.51
42,500 at 5.48%$240.78
42,500 at 5.49%$241.04
42,500 at 5.5%$241.31
42,500 at 5.51%$241.58
42,500 at 5.52%$241.84
42,500 at 5.53%$242.11
42,500 at 5.54%$242.38
42,500 at 5.55%$242.65
42,500 at 5.56%$242.91
42,500 at 5.57%$243.18
42,500 at 5.58%$243.45
42,500 at 5.59%$243.72
42,500 at 5.6%$243.98
42,500 at 5.61%$244.25
42,500 at 5.62%$244.52
42,500 at 5.63%$244.79
42,500 at 5.64%$245.06
42,500 at 5.65%$245.33
42,500 at 5.66%$245.59
42,500 at 5.67%$245.86
42,500 at 5.68%$246.13
42,500 at 5.69%$246.40
42,500 at 5.7%$246.67
42,500 at 5.71%$246.94
42,500 at 5.72%$247.21
42,500 at 5.73%$247.48
42,500 at 5.74%$247.75
42,500 at 5.75%$248.02
42,500 at 5.76%$248.29
42,500 at 5.77%$248.56
42,500 at 5.78%$248.83
42,500 at 5.79%$249.10
42,500 at 5.8%$249.37
42,500 at 5.81%$249.64
42,500 at 5.82%$249.91
42,500 at 5.83%$250.18
42,500 at 5.84%$250.45
42,500 at 5.85%$250.72
42,500 at 5.86%$251.00
42,500 at 5.87%$251.27
42,500 at 5.88%$251.54
42,500 at 5.89%$251.81
42,500 at 5.9%$252.08
42,500 at 5.91%$252.36
42,500 at 5.92%$252.63
42,500 at 5.93%$252.90
42,500 at 5.94%$253.17
42,500 at 5.95%$253.44
42,500 at 5.96%$253.72
42,500 at 5.97%$253.99
42,500 at 5.98%$254.26
42,500 at 5.99%$254.54
42,500 at 6%$254.81
42,500 at 6.01%$255.08
42,500 at 6.02%$255.36
42,500 at 6.03%$255.63
42,500 at 6.04%$255.90
42,500 at 6.05%$256.18
42,500 at 6.06%$256.45
42,500 at 6.07%$256.72
42,500 at 6.08%$257.00
42,500 at 6.09%$257.27
42,500 at 6.1%$257.55
42,500 at 6.11%$257.82
42,500 at 6.12%$258.10
42,500 at 6.13%$258.37
42,500 at 6.14%$258.65
42,500 at 6.15%$258.92
42,500 at 6.16%$259.20
42,500 at 6.17%$259.47
42,500 at 6.18%$259.75
42,500 at 6.19%$260.02
42,500 at 6.2%$260.30
42,500 at 6.21%$260.58
42,500 at 6.22%$260.85
42,500 at 6.23%$261.13
42,500 at 6.24%$261.40
42,500 at 6.25%$261.68
42,500 at 6.26%$261.96
42,500 at 6.27%$262.23
42,500 at 6.28%$262.51
42,500 at 6.29%$262.79
42,500 at 6.3%$263.06
42,500 at 6.31%$263.34
42,500 at 6.32%$263.62
42,500 at 6.33%$263.90
42,500 at 6.34%$264.17
42,500 at 6.35%$264.45
42,500 at 6.36%$264.73
42,500 at 6.37%$265.01
42,500 at 6.38%$265.28
42,500 at 6.39%$265.56
42,500 at 6.4%$265.84
42,500 at 6.41%$266.12
42,500 at 6.42%$266.40
42,500 at 6.43%$266.68
42,500 at 6.44%$266.95
42,500 at 6.45%$267.23
42,500 at 6.46%$267.51
42,500 at 6.47%$267.79
42,500 at 6.48%$268.07
42,500 at 6.49%$268.35
42,500 at 6.5%$268.63
Interest Rate 30 Year
42,500 at 6.51%$268.91
42,500 at 6.52%$269.19
42,500 at 6.53%$269.47
42,500 at 6.54%$269.75
42,500 at 6.55%$270.03
42,500 at 6.56%$270.31
42,500 at 6.57%$270.59
42,500 at 6.58%$270.87
42,500 at 6.59%$271.15
42,500 at 6.6%$271.43
42,500 at 6.61%$271.71
42,500 at 6.62%$271.99
42,500 at 6.63%$272.27
42,500 at 6.64%$272.55
42,500 at 6.65%$272.84
42,500 at 6.66%$273.12
42,500 at 6.67%$273.40
42,500 at 6.68%$273.68
42,500 at 6.69%$273.96
42,500 at 6.7%$274.24
42,500 at 6.71%$274.53
42,500 at 6.72%$274.81
42,500 at 6.73%$275.09
42,500 at 6.74%$275.37
42,500 at 6.75%$275.65
42,500 at 6.76%$275.94
42,500 at 6.77%$276.22
42,500 at 6.78%$276.50
42,500 at 6.79%$276.79
42,500 at 6.8%$277.07
42,500 at 6.81%$277.35
42,500 at 6.82%$277.63
42,500 at 6.83%$277.92
42,500 at 6.84%$278.20
42,500 at 6.85%$278.49
42,500 at 6.86%$278.77
42,500 at 6.87%$279.05
42,500 at 6.88%$279.34
42,500 at 6.89%$279.62
42,500 at 6.9%$279.91
42,500 at 6.91%$280.19
42,500 at 6.92%$280.47
42,500 at 6.93%$280.76
42,500 at 6.94%$281.04
42,500 at 6.95%$281.33
42,500 at 6.96%$281.61
42,500 at 6.97%$281.90
42,500 at 6.98%$282.18
42,500 at 6.99%$282.47
42,500 at 7%$282.75
42,500 at 7.01%$283.04
42,500 at 7.02%$283.32
42,500 at 7.03%$283.61
42,500 at 7.04%$283.90
42,500 at 7.05%$284.18
42,500 at 7.06%$284.47
42,500 at 7.07%$284.75
42,500 at 7.08%$285.04
42,500 at 7.09%$285.33
42,500 at 7.1%$285.61
42,500 at 7.11%$285.90
42,500 at 7.12%$286.19
42,500 at 7.13%$286.47
42,500 at 7.14%$286.76
42,500 at 7.15%$287.05
42,500 at 7.16%$287.34
42,500 at 7.17%$287.62
42,500 at 7.18%$287.91
42,500 at 7.19%$288.20
42,500 at 7.2%$288.48
42,500 at 7.21%$288.77
42,500 at 7.22%$289.06
42,500 at 7.23%$289.35
42,500 at 7.24%$289.64
42,500 at 7.25%$289.92
42,500 at 7.26%$290.21
42,500 at 7.27%$290.50
42,500 at 7.28%$290.79
42,500 at 7.29%$291.08
42,500 at 7.3%$291.37
42,500 at 7.31%$291.66
42,500 at 7.32%$291.95
42,500 at 7.33%$292.23
42,500 at 7.34%$292.52
42,500 at 7.35%$292.81
42,500 at 7.36%$293.10
42,500 at 7.37%$293.39
42,500 at 7.38%$293.68
42,500 at 7.39%$293.97
42,500 at 7.4%$294.26
42,500 at 7.41%$294.55
42,500 at 7.42%$294.84
42,500 at 7.43%$295.13
42,500 at 7.44%$295.42
42,500 at 7.45%$295.71
42,500 at 7.46%$296.00
42,500 at 7.47%$296.29
42,500 at 7.48%$296.58
42,500 at 7.49%$296.88
42,500 at 7.5%$297.17
42,500 at 7.51%$297.46
42,500 at 7.52%$297.75
42,500 at 7.53%$298.04
42,500 at 7.54%$298.33
42,500 at 7.55%$298.62
42,500 at 7.56%$298.91
42,500 at 7.57%$299.21
42,500 at 7.58%$299.50
42,500 at 7.59%$299.79
42,500 at 7.6%$300.08
42,500 at 7.61%$300.37
42,500 at 7.62%$300.67
42,500 at 7.63%$300.96
42,500 at 7.64%$301.25
42,500 at 7.65%$301.54
42,500 at 7.66%$301.84
42,500 at 7.67%$302.13
42,500 at 7.68%$302.42
42,500 at 7.69%$302.71
42,500 at 7.7%$303.01
42,500 at 7.71%$303.30
42,500 at 7.72%$303.59
42,500 at 7.73%$303.89
42,500 at 7.74%$304.18
42,500 at 7.75%$304.48
42,500 at 7.76%$304.77
42,500 at 7.77%$305.06
42,500 at 7.78%$305.36
42,500 at 7.79%$305.65
42,500 at 7.8%$305.94
42,500 at 7.81%$306.24
42,500 at 7.82%$306.53
42,500 at 7.83%$306.83
42,500 at 7.84%$307.12
42,500 at 7.85%$307.42
42,500 at 7.86%$307.71
42,500 at 7.87%$308.01
42,500 at 7.88%$308.30
42,500 at 7.89%$308.60
42,500 at 7.9%$308.89
42,500 at 7.91%$309.19
42,500 at 7.92%$309.48
42,500 at 7.93%$309.78
42,500 at 7.94%$310.07
42,500 at 7.95%$310.37
42,500 at 7.96%$310.67
42,500 at 7.97%$310.96
42,500 at 7.98%$311.26
42,500 at 7.99%$311.55
42,500 at 8%$311.85
More Amounts
What is the down payment for a $42,500 house? How much do you need to put down?
Percent Down Down Payment
1%425
2%850
3%1,275
4%1,700
5%2,125
6%2,550
7%2,975
8%3,400
9%3,825
10%4,250
11%4,675
12%5,100
13%5,525
14%5,950
15%6,375
16%6,800
17%7,225
18%7,650
19%8,075
20%8,500
Percent Down Down Payment
21%8,925
22%9,350
23%9,775
24%10,200
25%10,625
26%11,050
27%11,475
28%11,900
29%12,325
30%12,750
31%13,175
32%13,600
33%14,025
34%14,450
35%14,875
36%15,300
37%15,725
38%16,150
39%16,575
40%17,000
Percent Down Down Payment
41%17,425
42%17,850
43%18,275
44%18,700
45%19,125
46%19,550
47%19,975
48%20,400
49%20,825
50%21,250
51%21,675
52%22,100
53%22,525
54%22,950
55%23,375
56%23,800
57%24,225
58%24,650
59%25,075
60%25,500
Percent Down Down Payment
61%25,925
62%26,350
63%26,775
64%27,200
65%27,625
66%28,050
67%28,475
68%28,900
69%29,325
70%29,750
71%30,175
72%30,600
73%31,025
74%31,450
75%31,875
76%32,300
77%32,725
78%33,150
79%33,575
80%34,000
Percent Down Down Payment
81%34,425
82%34,850
83%35,275
84%35,700
85%36,125
86%36,550
87%36,975
88%37,400
89%37,825
90%38,250
91%38,675
92%39,100
93%39,525
94%39,950
95%40,375
96%40,800
97%41,225
98%41,650
99%42,075
100%42,500
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.