$48,250 Mortgage for 30 Years

What is the monthly payment of a 48,250 dollar loan?
$
$
%
%
years
Loan Tables for a $48,250 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 48k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $48,250 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
48,250 at 2.01%$178.58
48,250 at 2.02%$178.82
48,250 at 2.03%$179.07
48,250 at 2.04%$179.31
48,250 at 2.05%$179.55
48,250 at 2.06%$179.79
48,250 at 2.07%$180.04
48,250 at 2.08%$180.28
48,250 at 2.09%$180.52
48,250 at 2.1%$180.76
48,250 at 2.11%$181.01
48,250 at 2.12%$181.25
48,250 at 2.13%$181.49
48,250 at 2.14%$181.74
48,250 at 2.15%$181.98
48,250 at 2.16%$182.23
48,250 at 2.17%$182.47
48,250 at 2.18%$182.72
48,250 at 2.19%$182.96
48,250 at 2.2%$183.21
48,250 at 2.21%$183.45
48,250 at 2.22%$183.70
48,250 at 2.23%$183.94
48,250 at 2.24%$184.19
48,250 at 2.25%$184.43
48,250 at 2.26%$184.68
48,250 at 2.27%$184.93
48,250 at 2.28%$185.17
48,250 at 2.29%$185.42
48,250 at 2.3%$185.67
48,250 at 2.31%$185.91
48,250 at 2.32%$186.16
48,250 at 2.33%$186.41
48,250 at 2.34%$186.66
48,250 at 2.35%$186.90
48,250 at 2.36%$187.15
48,250 at 2.37%$187.40
48,250 at 2.38%$187.65
48,250 at 2.39%$187.90
48,250 at 2.4%$188.15
48,250 at 2.41%$188.40
48,250 at 2.42%$188.65
48,250 at 2.43%$188.89
48,250 at 2.44%$189.14
48,250 at 2.45%$189.39
48,250 at 2.46%$189.64
48,250 at 2.47%$189.89
48,250 at 2.48%$190.14
48,250 at 2.49%$190.40
48,250 at 2.5%$190.65
48,250 at 2.51%$190.90
48,250 at 2.52%$191.15
48,250 at 2.53%$191.40
48,250 at 2.54%$191.65
48,250 at 2.55%$191.90
48,250 at 2.56%$192.15
48,250 at 2.57%$192.41
48,250 at 2.58%$192.66
48,250 at 2.59%$192.91
48,250 at 2.6%$193.16
48,250 at 2.61%$193.42
48,250 at 2.62%$193.67
48,250 at 2.63%$193.92
48,250 at 2.64%$194.18
48,250 at 2.65%$194.43
48,250 at 2.66%$194.68
48,250 at 2.67%$194.94
48,250 at 2.68%$195.19
48,250 at 2.69%$195.45
48,250 at 2.7%$195.70
48,250 at 2.71%$195.96
48,250 at 2.72%$196.21
48,250 at 2.73%$196.47
48,250 at 2.74%$196.72
48,250 at 2.75%$196.98
48,250 at 2.76%$197.23
48,250 at 2.77%$197.49
48,250 at 2.78%$197.74
48,250 at 2.79%$198.00
48,250 at 2.8%$198.26
48,250 at 2.81%$198.51
48,250 at 2.82%$198.77
48,250 at 2.83%$199.03
48,250 at 2.84%$199.28
48,250 at 2.85%$199.54
48,250 at 2.86%$199.80
48,250 at 2.87%$200.06
48,250 at 2.88%$200.31
48,250 at 2.89%$200.57
48,250 at 2.9%$200.83
48,250 at 2.91%$201.09
48,250 at 2.92%$201.35
48,250 at 2.93%$201.61
48,250 at 2.94%$201.87
48,250 at 2.95%$202.13
48,250 at 2.96%$202.38
48,250 at 2.97%$202.64
48,250 at 2.98%$202.90
48,250 at 2.99%$203.16
48,250 at 3%$203.42
48,250 at 3.01%$203.68
48,250 at 3.02%$203.94
48,250 at 3.03%$204.21
48,250 at 3.04%$204.47
48,250 at 3.05%$204.73
48,250 at 3.06%$204.99
48,250 at 3.07%$205.25
48,250 at 3.08%$205.51
48,250 at 3.09%$205.77
48,250 at 3.1%$206.04
48,250 at 3.11%$206.30
48,250 at 3.12%$206.56
48,250 at 3.13%$206.82
48,250 at 3.14%$207.09
48,250 at 3.15%$207.35
48,250 at 3.16%$207.61
48,250 at 3.17%$207.87
48,250 at 3.18%$208.14
48,250 at 3.19%$208.40
48,250 at 3.2%$208.67
48,250 at 3.21%$208.93
48,250 at 3.22%$209.19
48,250 at 3.23%$209.46
48,250 at 3.24%$209.72
48,250 at 3.25%$209.99
48,250 at 3.26%$210.25
48,250 at 3.27%$210.52
48,250 at 3.28%$210.78
48,250 at 3.29%$211.05
48,250 at 3.3%$211.31
48,250 at 3.31%$211.58
48,250 at 3.32%$211.85
48,250 at 3.33%$212.11
48,250 at 3.34%$212.38
48,250 at 3.35%$212.64
48,250 at 3.36%$212.91
48,250 at 3.37%$213.18
48,250 at 3.38%$213.44
48,250 at 3.39%$213.71
48,250 at 3.4%$213.98
48,250 at 3.41%$214.25
48,250 at 3.42%$214.52
48,250 at 3.43%$214.78
48,250 at 3.44%$215.05
48,250 at 3.45%$215.32
48,250 at 3.46%$215.59
48,250 at 3.47%$215.86
48,250 at 3.48%$216.13
48,250 at 3.49%$216.39
48,250 at 3.5%$216.66
Interest Rate 30 Year
48,250 at 3.51%$216.93
48,250 at 3.52%$217.20
48,250 at 3.53%$217.47
48,250 at 3.54%$217.74
48,250 at 3.55%$218.01
48,250 at 3.56%$218.28
48,250 at 3.57%$218.55
48,250 at 3.58%$218.82
48,250 at 3.59%$219.10
48,250 at 3.6%$219.37
48,250 at 3.61%$219.64
48,250 at 3.62%$219.91
48,250 at 3.63%$220.18
48,250 at 3.64%$220.45
48,250 at 3.65%$220.72
48,250 at 3.66%$221.00
48,250 at 3.67%$221.27
48,250 at 3.68%$221.54
48,250 at 3.69%$221.81
48,250 at 3.7%$222.09
48,250 at 3.71%$222.36
48,250 at 3.72%$222.63
48,250 at 3.73%$222.91
48,250 at 3.74%$223.18
48,250 at 3.75%$223.45
48,250 at 3.76%$223.73
48,250 at 3.77%$224.00
48,250 at 3.78%$224.28
48,250 at 3.79%$224.55
48,250 at 3.8%$224.82
48,250 at 3.81%$225.10
48,250 at 3.82%$225.37
48,250 at 3.83%$225.65
48,250 at 3.84%$225.92
48,250 at 3.85%$226.20
48,250 at 3.86%$226.48
48,250 at 3.87%$226.75
48,250 at 3.88%$227.03
48,250 at 3.89%$227.30
48,250 at 3.9%$227.58
48,250 at 3.91%$227.86
48,250 at 3.92%$228.13
48,250 at 3.93%$228.41
48,250 at 3.94%$228.69
48,250 at 3.95%$228.96
48,250 at 3.96%$229.24
48,250 at 3.97%$229.52
48,250 at 3.98%$229.80
48,250 at 3.99%$230.07
48,250 at 4%$230.35
48,250 at 4.01%$230.63
48,250 at 4.02%$230.91
48,250 at 4.03%$231.19
48,250 at 4.04%$231.47
48,250 at 4.05%$231.75
48,250 at 4.06%$232.03
48,250 at 4.07%$232.30
48,250 at 4.08%$232.58
48,250 at 4.09%$232.86
48,250 at 4.1%$233.14
48,250 at 4.11%$233.42
48,250 at 4.12%$233.70
48,250 at 4.13%$233.98
48,250 at 4.14%$234.26
48,250 at 4.15%$234.54
48,250 at 4.16%$234.83
48,250 at 4.17%$235.11
48,250 at 4.18%$235.39
48,250 at 4.19%$235.67
48,250 at 4.2%$235.95
48,250 at 4.21%$236.23
48,250 at 4.22%$236.51
48,250 at 4.23%$236.80
48,250 at 4.24%$237.08
48,250 at 4.25%$237.36
48,250 at 4.26%$237.64
48,250 at 4.27%$237.93
48,250 at 4.28%$238.21
48,250 at 4.29%$238.49
48,250 at 4.3%$238.78
48,250 at 4.31%$239.06
48,250 at 4.32%$239.34
48,250 at 4.33%$239.63
48,250 at 4.34%$239.91
48,250 at 4.35%$240.19
48,250 at 4.36%$240.48
48,250 at 4.37%$240.76
48,250 at 4.38%$241.05
48,250 at 4.39%$241.33
48,250 at 4.4%$241.62
48,250 at 4.41%$241.90
48,250 at 4.42%$242.19
48,250 at 4.43%$242.47
48,250 at 4.44%$242.76
48,250 at 4.45%$243.04
48,250 at 4.46%$243.33
48,250 at 4.47%$243.62
48,250 at 4.48%$243.90
48,250 at 4.49%$244.19
48,250 at 4.5%$244.48
48,250 at 4.51%$244.76
48,250 at 4.52%$245.05
48,250 at 4.53%$245.34
48,250 at 4.54%$245.62
48,250 at 4.55%$245.91
48,250 at 4.56%$246.20
48,250 at 4.57%$246.49
48,250 at 4.58%$246.77
48,250 at 4.59%$247.06
48,250 at 4.6%$247.35
48,250 at 4.61%$247.64
48,250 at 4.62%$247.93
48,250 at 4.63%$248.22
48,250 at 4.64%$248.51
48,250 at 4.65%$248.79
48,250 at 4.66%$249.08
48,250 at 4.67%$249.37
48,250 at 4.68%$249.66
48,250 at 4.69%$249.95
48,250 at 4.7%$250.24
48,250 at 4.71%$250.53
48,250 at 4.72%$250.82
48,250 at 4.73%$251.11
48,250 at 4.74%$251.40
48,250 at 4.75%$251.69
48,250 at 4.76%$251.99
48,250 at 4.77%$252.28
48,250 at 4.78%$252.57
48,250 at 4.79%$252.86
48,250 at 4.8%$253.15
48,250 at 4.81%$253.44
48,250 at 4.82%$253.73
48,250 at 4.83%$254.03
48,250 at 4.84%$254.32
48,250 at 4.85%$254.61
48,250 at 4.86%$254.90
48,250 at 4.87%$255.20
48,250 at 4.88%$255.49
48,250 at 4.89%$255.78
48,250 at 4.9%$256.08
48,250 at 4.91%$256.37
48,250 at 4.92%$256.66
48,250 at 4.93%$256.96
48,250 at 4.94%$257.25
48,250 at 4.95%$257.54
48,250 at 4.96%$257.84
48,250 at 4.97%$258.13
48,250 at 4.98%$258.43
48,250 at 4.99%$258.72
48,250 at 5%$259.02
Interest Rate 30 Year
48,250 at 5.01%$259.31
48,250 at 5.02%$259.61
48,250 at 5.03%$259.90
48,250 at 5.04%$260.20
48,250 at 5.05%$260.49
48,250 at 5.06%$260.79
48,250 at 5.07%$261.08
48,250 at 5.08%$261.38
48,250 at 5.09%$261.68
48,250 at 5.1%$261.97
48,250 at 5.11%$262.27
48,250 at 5.12%$262.57
48,250 at 5.13%$262.86
48,250 at 5.14%$263.16
48,250 at 5.15%$263.46
48,250 at 5.16%$263.76
48,250 at 5.17%$264.05
48,250 at 5.18%$264.35
48,250 at 5.19%$264.65
48,250 at 5.2%$264.95
48,250 at 5.21%$265.24
48,250 at 5.22%$265.54
48,250 at 5.23%$265.84
48,250 at 5.24%$266.14
48,250 at 5.25%$266.44
48,250 at 5.26%$266.74
48,250 at 5.27%$267.04
48,250 at 5.28%$267.34
48,250 at 5.29%$267.63
48,250 at 5.3%$267.93
48,250 at 5.31%$268.23
48,250 at 5.32%$268.53
48,250 at 5.33%$268.83
48,250 at 5.34%$269.13
48,250 at 5.35%$269.43
48,250 at 5.36%$269.74
48,250 at 5.37%$270.04
48,250 at 5.38%$270.34
48,250 at 5.39%$270.64
48,250 at 5.4%$270.94
48,250 at 5.41%$271.24
48,250 at 5.42%$271.54
48,250 at 5.43%$271.84
48,250 at 5.44%$272.14
48,250 at 5.45%$272.45
48,250 at 5.46%$272.75
48,250 at 5.47%$273.05
48,250 at 5.48%$273.35
48,250 at 5.49%$273.66
48,250 at 5.5%$273.96
48,250 at 5.51%$274.26
48,250 at 5.52%$274.56
48,250 at 5.53%$274.87
48,250 at 5.54%$275.17
48,250 at 5.55%$275.47
48,250 at 5.56%$275.78
48,250 at 5.57%$276.08
48,250 at 5.58%$276.38
48,250 at 5.59%$276.69
48,250 at 5.6%$276.99
48,250 at 5.61%$277.30
48,250 at 5.62%$277.60
48,250 at 5.63%$277.91
48,250 at 5.64%$278.21
48,250 at 5.65%$278.52
48,250 at 5.66%$278.82
48,250 at 5.67%$279.13
48,250 at 5.68%$279.43
48,250 at 5.69%$279.74
48,250 at 5.7%$280.04
48,250 at 5.71%$280.35
48,250 at 5.72%$280.66
48,250 at 5.73%$280.96
48,250 at 5.74%$281.27
48,250 at 5.75%$281.57
48,250 at 5.76%$281.88
48,250 at 5.77%$282.19
48,250 at 5.78%$282.49
48,250 at 5.79%$282.80
48,250 at 5.8%$283.11
48,250 at 5.81%$283.42
48,250 at 5.82%$283.72
48,250 at 5.83%$284.03
48,250 at 5.84%$284.34
48,250 at 5.85%$284.65
48,250 at 5.86%$284.95
48,250 at 5.87%$285.26
48,250 at 5.88%$285.57
48,250 at 5.89%$285.88
48,250 at 5.9%$286.19
48,250 at 5.91%$286.50
48,250 at 5.92%$286.81
48,250 at 5.93%$287.12
48,250 at 5.94%$287.42
48,250 at 5.95%$287.73
48,250 at 5.96%$288.04
48,250 at 5.97%$288.35
48,250 at 5.98%$288.66
48,250 at 5.99%$288.97
48,250 at 6%$289.28
48,250 at 6.01%$289.59
48,250 at 6.02%$289.90
48,250 at 6.03%$290.21
48,250 at 6.04%$290.53
48,250 at 6.05%$290.84
48,250 at 6.06%$291.15
48,250 at 6.07%$291.46
48,250 at 6.08%$291.77
48,250 at 6.09%$292.08
48,250 at 6.1%$292.39
48,250 at 6.11%$292.70
48,250 at 6.12%$293.02
48,250 at 6.13%$293.33
48,250 at 6.14%$293.64
48,250 at 6.15%$293.95
48,250 at 6.16%$294.27
48,250 at 6.17%$294.58
48,250 at 6.18%$294.89
48,250 at 6.19%$295.20
48,250 at 6.2%$295.52
48,250 at 6.21%$295.83
48,250 at 6.22%$296.14
48,250 at 6.23%$296.46
48,250 at 6.24%$296.77
48,250 at 6.25%$297.08
48,250 at 6.26%$297.40
48,250 at 6.27%$297.71
48,250 at 6.28%$298.03
48,250 at 6.29%$298.34
48,250 at 6.3%$298.65
48,250 at 6.31%$298.97
48,250 at 6.32%$299.28
48,250 at 6.33%$299.60
48,250 at 6.34%$299.91
48,250 at 6.35%$300.23
48,250 at 6.36%$300.54
48,250 at 6.37%$300.86
48,250 at 6.38%$301.18
48,250 at 6.39%$301.49
48,250 at 6.4%$301.81
48,250 at 6.41%$302.12
48,250 at 6.42%$302.44
48,250 at 6.43%$302.76
48,250 at 6.44%$303.07
48,250 at 6.45%$303.39
48,250 at 6.46%$303.70
48,250 at 6.47%$304.02
48,250 at 6.48%$304.34
48,250 at 6.49%$304.66
48,250 at 6.5%$304.97
Interest Rate 30 Year
48,250 at 6.51%$305.29
48,250 at 6.52%$305.61
48,250 at 6.53%$305.93
48,250 at 6.54%$306.24
48,250 at 6.55%$306.56
48,250 at 6.56%$306.88
48,250 at 6.57%$307.20
48,250 at 6.58%$307.52
48,250 at 6.59%$307.83
48,250 at 6.6%$308.15
48,250 at 6.61%$308.47
48,250 at 6.62%$308.79
48,250 at 6.63%$309.11
48,250 at 6.64%$309.43
48,250 at 6.65%$309.75
48,250 at 6.66%$310.07
48,250 at 6.67%$310.39
48,250 at 6.68%$310.71
48,250 at 6.69%$311.03
48,250 at 6.7%$311.35
48,250 at 6.71%$311.67
48,250 at 6.72%$311.99
48,250 at 6.73%$312.31
48,250 at 6.74%$312.63
48,250 at 6.75%$312.95
48,250 at 6.76%$313.27
48,250 at 6.77%$313.59
48,250 at 6.78%$313.91
48,250 at 6.79%$314.23
48,250 at 6.8%$314.55
48,250 at 6.81%$314.88
48,250 at 6.82%$315.20
48,250 at 6.83%$315.52
48,250 at 6.84%$315.84
48,250 at 6.85%$316.16
48,250 at 6.86%$316.48
48,250 at 6.87%$316.81
48,250 at 6.88%$317.13
48,250 at 6.89%$317.45
48,250 at 6.9%$317.77
48,250 at 6.91%$318.10
48,250 at 6.92%$318.42
48,250 at 6.93%$318.74
48,250 at 6.94%$319.07
48,250 at 6.95%$319.39
48,250 at 6.96%$319.71
48,250 at 6.97%$320.04
48,250 at 6.98%$320.36
48,250 at 6.99%$320.68
48,250 at 7%$321.01
48,250 at 7.01%$321.33
48,250 at 7.02%$321.66
48,250 at 7.03%$321.98
48,250 at 7.04%$322.31
48,250 at 7.05%$322.63
48,250 at 7.06%$322.96
48,250 at 7.07%$323.28
48,250 at 7.08%$323.60
48,250 at 7.09%$323.93
48,250 at 7.1%$324.26
48,250 at 7.11%$324.58
48,250 at 7.12%$324.91
48,250 at 7.13%$325.23
48,250 at 7.14%$325.56
48,250 at 7.15%$325.88
48,250 at 7.16%$326.21
48,250 at 7.17%$326.54
48,250 at 7.18%$326.86
48,250 at 7.19%$327.19
48,250 at 7.2%$327.52
48,250 at 7.21%$327.84
48,250 at 7.22%$328.17
48,250 at 7.23%$328.50
48,250 at 7.24%$328.82
48,250 at 7.25%$329.15
48,250 at 7.26%$329.48
48,250 at 7.27%$329.80
48,250 at 7.28%$330.13
48,250 at 7.29%$330.46
48,250 at 7.3%$330.79
48,250 at 7.31%$331.12
48,250 at 7.32%$331.44
48,250 at 7.33%$331.77
48,250 at 7.34%$332.10
48,250 at 7.35%$332.43
48,250 at 7.36%$332.76
48,250 at 7.37%$333.09
48,250 at 7.38%$333.42
48,250 at 7.39%$333.74
48,250 at 7.4%$334.07
48,250 at 7.41%$334.40
48,250 at 7.42%$334.73
48,250 at 7.43%$335.06
48,250 at 7.44%$335.39
48,250 at 7.45%$335.72
48,250 at 7.46%$336.05
48,250 at 7.47%$336.38
48,250 at 7.48%$336.71
48,250 at 7.49%$337.04
48,250 at 7.5%$337.37
48,250 at 7.51%$337.70
48,250 at 7.52%$338.03
48,250 at 7.53%$338.36
48,250 at 7.54%$338.69
48,250 at 7.55%$339.02
48,250 at 7.56%$339.36
48,250 at 7.57%$339.69
48,250 at 7.58%$340.02
48,250 at 7.59%$340.35
48,250 at 7.6%$340.68
48,250 at 7.61%$341.01
48,250 at 7.62%$341.34
48,250 at 7.63%$341.68
48,250 at 7.64%$342.01
48,250 at 7.65%$342.34
48,250 at 7.66%$342.67
48,250 at 7.67%$343.01
48,250 at 7.68%$343.34
48,250 at 7.69%$343.67
48,250 at 7.7%$344.00
48,250 at 7.71%$344.34
48,250 at 7.72%$344.67
48,250 at 7.73%$345.00
48,250 at 7.74%$345.34
48,250 at 7.75%$345.67
48,250 at 7.76%$346.00
48,250 at 7.77%$346.34
48,250 at 7.78%$346.67
48,250 at 7.79%$347.00
48,250 at 7.8%$347.34
48,250 at 7.81%$347.67
48,250 at 7.82%$348.01
48,250 at 7.83%$348.34
48,250 at 7.84%$348.67
48,250 at 7.85%$349.01
48,250 at 7.86%$349.34
48,250 at 7.87%$349.68
48,250 at 7.88%$350.01
48,250 at 7.89%$350.35
48,250 at 7.9%$350.68
48,250 at 7.91%$351.02
48,250 at 7.92%$351.35
48,250 at 7.93%$351.69
48,250 at 7.94%$352.03
48,250 at 7.95%$352.36
48,250 at 7.96%$352.70
48,250 at 7.97%$353.03
48,250 at 7.98%$353.37
48,250 at 7.99%$353.71
48,250 at 8%$354.04
More Amounts
What is the down payment for a $48,250 house? How much do you need to put down?
Percent Down Down Payment
1%483
2%965
3%1,448
4%1,930
5%2,413
6%2,895
7%3,378
8%3,860
9%4,343
10%4,825
11%5,308
12%5,790
13%6,273
14%6,755
15%7,238
16%7,720
17%8,203
18%8,685
19%9,168
20%9,650
Percent Down Down Payment
21%10,133
22%10,615
23%11,098
24%11,580
25%12,063
26%12,545
27%13,028
28%13,510
29%13,993
30%14,475
31%14,958
32%15,440
33%15,923
34%16,405
35%16,888
36%17,370
37%17,853
38%18,335
39%18,818
40%19,300
Percent Down Down Payment
41%19,783
42%20,265
43%20,748
44%21,230
45%21,713
46%22,195
47%22,678
48%23,160
49%23,643
50%24,125
51%24,608
52%25,090
53%25,573
54%26,055
55%26,538
56%27,020
57%27,503
58%27,985
59%28,468
60%28,950
Percent Down Down Payment
61%29,433
62%29,915
63%30,398
64%30,880
65%31,363
66%31,845
67%32,328
68%32,810
69%33,293
70%33,775
71%34,258
72%34,740
73%35,223
74%35,705
75%36,188
76%36,670
77%37,153
78%37,635
79%38,118
80%38,600
Percent Down Down Payment
81%39,083
82%39,565
83%40,048
84%40,530
85%41,013
86%41,495
87%41,978
88%42,460
89%42,943
90%43,425
91%43,908
92%44,390
93%44,873
94%45,355
95%45,838
96%46,320
97%46,803
98%47,285
99%47,768
100%48,250
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.