$53,500 Mortgage for 30 Years

What is the monthly payment of a 53,500 dollar loan?
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Loan Tables for a $53,500 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 54k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $53,500 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
53,500 at 2.01%$198.01
53,500 at 2.02%$198.28
53,500 at 2.03%$198.55
53,500 at 2.04%$198.82
53,500 at 2.05%$199.09
53,500 at 2.06%$199.36
53,500 at 2.07%$199.62
53,500 at 2.08%$199.89
53,500 at 2.09%$200.16
53,500 at 2.1%$200.43
53,500 at 2.11%$200.70
53,500 at 2.12%$200.97
53,500 at 2.13%$201.24
53,500 at 2.14%$201.51
53,500 at 2.15%$201.78
53,500 at 2.16%$202.05
53,500 at 2.17%$202.33
53,500 at 2.18%$202.60
53,500 at 2.19%$202.87
53,500 at 2.2%$203.14
53,500 at 2.21%$203.41
53,500 at 2.22%$203.68
53,500 at 2.23%$203.96
53,500 at 2.24%$204.23
53,500 at 2.25%$204.50
53,500 at 2.26%$204.77
53,500 at 2.27%$205.05
53,500 at 2.28%$205.32
53,500 at 2.29%$205.59
53,500 at 2.3%$205.87
53,500 at 2.31%$206.14
53,500 at 2.32%$206.42
53,500 at 2.33%$206.69
53,500 at 2.34%$206.97
53,500 at 2.35%$207.24
53,500 at 2.36%$207.52
53,500 at 2.37%$207.79
53,500 at 2.38%$208.07
53,500 at 2.39%$208.34
53,500 at 2.4%$208.62
53,500 at 2.41%$208.89
53,500 at 2.42%$209.17
53,500 at 2.43%$209.45
53,500 at 2.44%$209.72
53,500 at 2.45%$210.00
53,500 at 2.46%$210.28
53,500 at 2.47%$210.56
53,500 at 2.48%$210.83
53,500 at 2.49%$211.11
53,500 at 2.5%$211.39
53,500 at 2.51%$211.67
53,500 at 2.52%$211.95
53,500 at 2.53%$212.23
53,500 at 2.54%$212.50
53,500 at 2.55%$212.78
53,500 at 2.56%$213.06
53,500 at 2.57%$213.34
53,500 at 2.58%$213.62
53,500 at 2.59%$213.90
53,500 at 2.6%$214.18
53,500 at 2.61%$214.46
53,500 at 2.62%$214.74
53,500 at 2.63%$215.02
53,500 at 2.64%$215.30
53,500 at 2.65%$215.59
53,500 at 2.66%$215.87
53,500 at 2.67%$216.15
53,500 at 2.68%$216.43
53,500 at 2.69%$216.71
53,500 at 2.7%$216.99
53,500 at 2.71%$217.28
53,500 at 2.72%$217.56
53,500 at 2.73%$217.84
53,500 at 2.74%$218.13
53,500 at 2.75%$218.41
53,500 at 2.76%$218.69
53,500 at 2.77%$218.98
53,500 at 2.78%$219.26
53,500 at 2.79%$219.54
53,500 at 2.8%$219.83
53,500 at 2.81%$220.11
53,500 at 2.82%$220.40
53,500 at 2.83%$220.68
53,500 at 2.84%$220.97
53,500 at 2.85%$221.25
53,500 at 2.86%$221.54
53,500 at 2.87%$221.82
53,500 at 2.88%$222.11
53,500 at 2.89%$222.40
53,500 at 2.9%$222.68
53,500 at 2.91%$222.97
53,500 at 2.92%$223.26
53,500 at 2.93%$223.54
53,500 at 2.94%$223.83
53,500 at 2.95%$224.12
53,500 at 2.96%$224.41
53,500 at 2.97%$224.69
53,500 at 2.98%$224.98
53,500 at 2.99%$225.27
53,500 at 3%$225.56
53,500 at 3.01%$225.85
53,500 at 3.02%$226.14
53,500 at 3.03%$226.42
53,500 at 3.04%$226.71
53,500 at 3.05%$227.00
53,500 at 3.06%$227.29
53,500 at 3.07%$227.58
53,500 at 3.08%$227.87
53,500 at 3.09%$228.16
53,500 at 3.1%$228.45
53,500 at 3.11%$228.74
53,500 at 3.12%$229.04
53,500 at 3.13%$229.33
53,500 at 3.14%$229.62
53,500 at 3.15%$229.91
53,500 at 3.16%$230.20
53,500 at 3.17%$230.49
53,500 at 3.18%$230.78
53,500 at 3.19%$231.08
53,500 at 3.2%$231.37
53,500 at 3.21%$231.66
53,500 at 3.22%$231.96
53,500 at 3.23%$232.25
53,500 at 3.24%$232.54
53,500 at 3.25%$232.84
53,500 at 3.26%$233.13
53,500 at 3.27%$233.42
53,500 at 3.28%$233.72
53,500 at 3.29%$234.01
53,500 at 3.3%$234.31
53,500 at 3.31%$234.60
53,500 at 3.32%$234.90
53,500 at 3.33%$235.19
53,500 at 3.34%$235.49
53,500 at 3.35%$235.78
53,500 at 3.36%$236.08
53,500 at 3.37%$236.37
53,500 at 3.38%$236.67
53,500 at 3.39%$236.97
53,500 at 3.4%$237.26
53,500 at 3.41%$237.56
53,500 at 3.42%$237.86
53,500 at 3.43%$238.15
53,500 at 3.44%$238.45
53,500 at 3.45%$238.75
53,500 at 3.46%$239.05
53,500 at 3.47%$239.34
53,500 at 3.48%$239.64
53,500 at 3.49%$239.94
53,500 at 3.5%$240.24
Interest Rate 30 Year
53,500 at 3.51%$240.54
53,500 at 3.52%$240.84
53,500 at 3.53%$241.14
53,500 at 3.54%$241.44
53,500 at 3.55%$241.73
53,500 at 3.56%$242.03
53,500 at 3.57%$242.33
53,500 at 3.58%$242.63
53,500 at 3.59%$242.93
53,500 at 3.6%$243.24
53,500 at 3.61%$243.54
53,500 at 3.62%$243.84
53,500 at 3.63%$244.14
53,500 at 3.64%$244.44
53,500 at 3.65%$244.74
53,500 at 3.66%$245.04
53,500 at 3.67%$245.34
53,500 at 3.68%$245.65
53,500 at 3.69%$245.95
53,500 at 3.7%$246.25
53,500 at 3.71%$246.55
53,500 at 3.72%$246.86
53,500 at 3.73%$247.16
53,500 at 3.74%$247.46
53,500 at 3.75%$247.77
53,500 at 3.76%$248.07
53,500 at 3.77%$248.37
53,500 at 3.78%$248.68
53,500 at 3.79%$248.98
53,500 at 3.8%$249.29
53,500 at 3.81%$249.59
53,500 at 3.82%$249.90
53,500 at 3.83%$250.20
53,500 at 3.84%$250.51
53,500 at 3.85%$250.81
53,500 at 3.86%$251.12
53,500 at 3.87%$251.42
53,500 at 3.88%$251.73
53,500 at 3.89%$252.04
53,500 at 3.9%$252.34
53,500 at 3.91%$252.65
53,500 at 3.92%$252.96
53,500 at 3.93%$253.26
53,500 at 3.94%$253.57
53,500 at 3.95%$253.88
53,500 at 3.96%$254.18
53,500 at 3.97%$254.49
53,500 at 3.98%$254.80
53,500 at 3.99%$255.11
53,500 at 4%$255.42
53,500 at 4.01%$255.73
53,500 at 4.02%$256.03
53,500 at 4.03%$256.34
53,500 at 4.04%$256.65
53,500 at 4.05%$256.96
53,500 at 4.06%$257.27
53,500 at 4.07%$257.58
53,500 at 4.08%$257.89
53,500 at 4.09%$258.20
53,500 at 4.1%$258.51
53,500 at 4.11%$258.82
53,500 at 4.12%$259.13
53,500 at 4.13%$259.44
53,500 at 4.14%$259.75
53,500 at 4.15%$260.07
53,500 at 4.16%$260.38
53,500 at 4.17%$260.69
53,500 at 4.18%$261.00
53,500 at 4.19%$261.31
53,500 at 4.2%$261.62
53,500 at 4.21%$261.94
53,500 at 4.22%$262.25
53,500 at 4.23%$262.56
53,500 at 4.24%$262.87
53,500 at 4.25%$263.19
53,500 at 4.26%$263.50
53,500 at 4.27%$263.81
53,500 at 4.28%$264.13
53,500 at 4.29%$264.44
53,500 at 4.3%$264.76
53,500 at 4.31%$265.07
53,500 at 4.32%$265.38
53,500 at 4.33%$265.70
53,500 at 4.34%$266.01
53,500 at 4.35%$266.33
53,500 at 4.36%$266.64
53,500 at 4.37%$266.96
53,500 at 4.38%$267.28
53,500 at 4.39%$267.59
53,500 at 4.4%$267.91
53,500 at 4.41%$268.22
53,500 at 4.42%$268.54
53,500 at 4.43%$268.86
53,500 at 4.44%$269.17
53,500 at 4.45%$269.49
53,500 at 4.46%$269.81
53,500 at 4.47%$270.12
53,500 at 4.48%$270.44
53,500 at 4.49%$270.76
53,500 at 4.5%$271.08
53,500 at 4.51%$271.39
53,500 at 4.52%$271.71
53,500 at 4.53%$272.03
53,500 at 4.54%$272.35
53,500 at 4.55%$272.67
53,500 at 4.56%$272.99
53,500 at 4.57%$273.31
53,500 at 4.58%$273.63
53,500 at 4.59%$273.95
53,500 at 4.6%$274.26
53,500 at 4.61%$274.58
53,500 at 4.62%$274.90
53,500 at 4.63%$275.22
53,500 at 4.64%$275.55
53,500 at 4.65%$275.87
53,500 at 4.66%$276.19
53,500 at 4.67%$276.51
53,500 at 4.68%$276.83
53,500 at 4.69%$277.15
53,500 at 4.7%$277.47
53,500 at 4.71%$277.79
53,500 at 4.72%$278.11
53,500 at 4.73%$278.44
53,500 at 4.74%$278.76
53,500 at 4.75%$279.08
53,500 at 4.76%$279.40
53,500 at 4.77%$279.73
53,500 at 4.78%$280.05
53,500 at 4.79%$280.37
53,500 at 4.8%$280.70
53,500 at 4.81%$281.02
53,500 at 4.82%$281.34
53,500 at 4.83%$281.67
53,500 at 4.84%$281.99
53,500 at 4.85%$282.32
53,500 at 4.86%$282.64
53,500 at 4.87%$282.96
53,500 at 4.88%$283.29
53,500 at 4.89%$283.61
53,500 at 4.9%$283.94
53,500 at 4.91%$284.26
53,500 at 4.92%$284.59
53,500 at 4.93%$284.92
53,500 at 4.94%$285.24
53,500 at 4.95%$285.57
53,500 at 4.96%$285.89
53,500 at 4.97%$286.22
53,500 at 4.98%$286.55
53,500 at 4.99%$286.87
53,500 at 5%$287.20
Interest Rate 30 Year
53,500 at 5.01%$287.53
53,500 at 5.02%$287.85
53,500 at 5.03%$288.18
53,500 at 5.04%$288.51
53,500 at 5.05%$288.84
53,500 at 5.06%$289.16
53,500 at 5.07%$289.49
53,500 at 5.08%$289.82
53,500 at 5.09%$290.15
53,500 at 5.1%$290.48
53,500 at 5.11%$290.81
53,500 at 5.12%$291.14
53,500 at 5.13%$291.47
53,500 at 5.14%$291.79
53,500 at 5.15%$292.12
53,500 at 5.16%$292.45
53,500 at 5.17%$292.78
53,500 at 5.18%$293.11
53,500 at 5.19%$293.44
53,500 at 5.2%$293.77
53,500 at 5.21%$294.10
53,500 at 5.22%$294.44
53,500 at 5.23%$294.77
53,500 at 5.24%$295.10
53,500 at 5.25%$295.43
53,500 at 5.26%$295.76
53,500 at 5.27%$296.09
53,500 at 5.28%$296.42
53,500 at 5.29%$296.76
53,500 at 5.3%$297.09
53,500 at 5.31%$297.42
53,500 at 5.32%$297.75
53,500 at 5.33%$298.09
53,500 at 5.34%$298.42
53,500 at 5.35%$298.75
53,500 at 5.36%$299.08
53,500 at 5.37%$299.42
53,500 at 5.38%$299.75
53,500 at 5.39%$300.09
53,500 at 5.4%$300.42
53,500 at 5.41%$300.75
53,500 at 5.42%$301.09
53,500 at 5.43%$301.42
53,500 at 5.44%$301.76
53,500 at 5.45%$302.09
53,500 at 5.46%$302.43
53,500 at 5.47%$302.76
53,500 at 5.48%$303.10
53,500 at 5.49%$303.43
53,500 at 5.5%$303.77
53,500 at 5.51%$304.10
53,500 at 5.52%$304.44
53,500 at 5.53%$304.77
53,500 at 5.54%$305.11
53,500 at 5.55%$305.45
53,500 at 5.56%$305.78
53,500 at 5.57%$306.12
53,500 at 5.58%$306.46
53,500 at 5.59%$306.79
53,500 at 5.6%$307.13
53,500 at 5.61%$307.47
53,500 at 5.62%$307.81
53,500 at 5.63%$308.15
53,500 at 5.64%$308.48
53,500 at 5.65%$308.82
53,500 at 5.66%$309.16
53,500 at 5.67%$309.50
53,500 at 5.68%$309.84
53,500 at 5.69%$310.18
53,500 at 5.7%$310.51
53,500 at 5.71%$310.85
53,500 at 5.72%$311.19
53,500 at 5.73%$311.53
53,500 at 5.74%$311.87
53,500 at 5.75%$312.21
53,500 at 5.76%$312.55
53,500 at 5.77%$312.89
53,500 at 5.78%$313.23
53,500 at 5.79%$313.57
53,500 at 5.8%$313.91
53,500 at 5.81%$314.25
53,500 at 5.82%$314.59
53,500 at 5.83%$314.94
53,500 at 5.84%$315.28
53,500 at 5.85%$315.62
53,500 at 5.86%$315.96
53,500 at 5.87%$316.30
53,500 at 5.88%$316.64
53,500 at 5.89%$316.99
53,500 at 5.9%$317.33
53,500 at 5.91%$317.67
53,500 at 5.92%$318.01
53,500 at 5.93%$318.36
53,500 at 5.94%$318.70
53,500 at 5.95%$319.04
53,500 at 5.96%$319.38
53,500 at 5.97%$319.73
53,500 at 5.98%$320.07
53,500 at 5.99%$320.42
53,500 at 6%$320.76
53,500 at 6.01%$321.10
53,500 at 6.02%$321.45
53,500 at 6.03%$321.79
53,500 at 6.04%$322.14
53,500 at 6.05%$322.48
53,500 at 6.06%$322.83
53,500 at 6.07%$323.17
53,500 at 6.08%$323.52
53,500 at 6.09%$323.86
53,500 at 6.1%$324.21
53,500 at 6.11%$324.55
53,500 at 6.12%$324.90
53,500 at 6.13%$325.24
53,500 at 6.14%$325.59
53,500 at 6.15%$325.94
53,500 at 6.16%$326.28
53,500 at 6.17%$326.63
53,500 at 6.18%$326.98
53,500 at 6.19%$327.32
53,500 at 6.2%$327.67
53,500 at 6.21%$328.02
53,500 at 6.22%$328.37
53,500 at 6.23%$328.71
53,500 at 6.24%$329.06
53,500 at 6.25%$329.41
53,500 at 6.26%$329.76
53,500 at 6.27%$330.10
53,500 at 6.28%$330.45
53,500 at 6.29%$330.80
53,500 at 6.3%$331.15
53,500 at 6.31%$331.50
53,500 at 6.32%$331.85
53,500 at 6.33%$332.20
53,500 at 6.34%$332.55
53,500 at 6.35%$332.90
53,500 at 6.36%$333.25
53,500 at 6.37%$333.60
53,500 at 6.38%$333.95
53,500 at 6.39%$334.30
53,500 at 6.4%$334.65
53,500 at 6.41%$335.00
53,500 at 6.42%$335.35
53,500 at 6.43%$335.70
53,500 at 6.44%$336.05
53,500 at 6.45%$336.40
53,500 at 6.46%$336.75
53,500 at 6.47%$337.10
53,500 at 6.48%$337.45
53,500 at 6.49%$337.80
53,500 at 6.5%$338.16
Interest Rate 30 Year
53,500 at 6.51%$338.51
53,500 at 6.52%$338.86
53,500 at 6.53%$339.21
53,500 at 6.54%$339.56
53,500 at 6.55%$339.92
53,500 at 6.56%$340.27
53,500 at 6.57%$340.62
53,500 at 6.58%$340.98
53,500 at 6.59%$341.33
53,500 at 6.6%$341.68
53,500 at 6.61%$342.04
53,500 at 6.62%$342.39
53,500 at 6.63%$342.74
53,500 at 6.64%$343.10
53,500 at 6.65%$343.45
53,500 at 6.66%$343.81
53,500 at 6.67%$344.16
53,500 at 6.68%$344.51
53,500 at 6.69%$344.87
53,500 at 6.7%$345.22
53,500 at 6.71%$345.58
53,500 at 6.72%$345.93
53,500 at 6.73%$346.29
53,500 at 6.74%$346.64
53,500 at 6.75%$347.00
53,500 at 6.76%$347.36
53,500 at 6.77%$347.71
53,500 at 6.78%$348.07
53,500 at 6.79%$348.42
53,500 at 6.8%$348.78
53,500 at 6.81%$349.14
53,500 at 6.82%$349.49
53,500 at 6.83%$349.85
53,500 at 6.84%$350.21
53,500 at 6.85%$350.56
53,500 at 6.86%$350.92
53,500 at 6.87%$351.28
53,500 at 6.88%$351.64
53,500 at 6.89%$351.99
53,500 at 6.9%$352.35
53,500 at 6.91%$352.71
53,500 at 6.92%$353.07
53,500 at 6.93%$353.43
53,500 at 6.94%$353.78
53,500 at 6.95%$354.14
53,500 at 6.96%$354.50
53,500 at 6.97%$354.86
53,500 at 6.98%$355.22
53,500 at 6.99%$355.58
53,500 at 7%$355.94
53,500 at 7.01%$356.30
53,500 at 7.02%$356.66
53,500 at 7.03%$357.02
53,500 at 7.04%$357.38
53,500 at 7.05%$357.74
53,500 at 7.06%$358.10
53,500 at 7.07%$358.46
53,500 at 7.08%$358.82
53,500 at 7.09%$359.18
53,500 at 7.1%$359.54
53,500 at 7.11%$359.90
53,500 at 7.12%$360.26
53,500 at 7.13%$360.62
53,500 at 7.14%$360.98
53,500 at 7.15%$361.34
53,500 at 7.16%$361.70
53,500 at 7.17%$362.07
53,500 at 7.18%$362.43
53,500 at 7.19%$362.79
53,500 at 7.2%$363.15
53,500 at 7.21%$363.51
53,500 at 7.22%$363.88
53,500 at 7.23%$364.24
53,500 at 7.24%$364.60
53,500 at 7.25%$364.96
53,500 at 7.26%$365.33
53,500 at 7.27%$365.69
53,500 at 7.28%$366.05
53,500 at 7.29%$366.42
53,500 at 7.3%$366.78
53,500 at 7.31%$367.14
53,500 at 7.32%$367.51
53,500 at 7.33%$367.87
53,500 at 7.34%$368.24
53,500 at 7.35%$368.60
53,500 at 7.36%$368.96
53,500 at 7.37%$369.33
53,500 at 7.38%$369.69
53,500 at 7.39%$370.06
53,500 at 7.4%$370.42
53,500 at 7.41%$370.79
53,500 at 7.42%$371.15
53,500 at 7.43%$371.52
53,500 at 7.44%$371.88
53,500 at 7.45%$372.25
53,500 at 7.46%$372.62
53,500 at 7.47%$372.98
53,500 at 7.48%$373.35
53,500 at 7.49%$373.71
53,500 at 7.5%$374.08
53,500 at 7.51%$374.45
53,500 at 7.52%$374.81
53,500 at 7.53%$375.18
53,500 at 7.54%$375.55
53,500 at 7.55%$375.91
53,500 at 7.56%$376.28
53,500 at 7.57%$376.65
53,500 at 7.58%$377.01
53,500 at 7.59%$377.38
53,500 at 7.6%$377.75
53,500 at 7.61%$378.12
53,500 at 7.62%$378.49
53,500 at 7.63%$378.85
53,500 at 7.64%$379.22
53,500 at 7.65%$379.59
53,500 at 7.66%$379.96
53,500 at 7.67%$380.33
53,500 at 7.68%$380.70
53,500 at 7.69%$381.06
53,500 at 7.7%$381.43
53,500 at 7.71%$381.80
53,500 at 7.72%$382.17
53,500 at 7.73%$382.54
53,500 at 7.74%$382.91
53,500 at 7.75%$383.28
53,500 at 7.76%$383.65
53,500 at 7.77%$384.02
53,500 at 7.78%$384.39
53,500 at 7.79%$384.76
53,500 at 7.8%$385.13
53,500 at 7.81%$385.50
53,500 at 7.82%$385.87
53,500 at 7.83%$386.24
53,500 at 7.84%$386.61
53,500 at 7.85%$386.98
53,500 at 7.86%$387.36
53,500 at 7.87%$387.73
53,500 at 7.88%$388.10
53,500 at 7.89%$388.47
53,500 at 7.9%$388.84
53,500 at 7.91%$389.21
53,500 at 7.92%$389.58
53,500 at 7.93%$389.96
53,500 at 7.94%$390.33
53,500 at 7.95%$390.70
53,500 at 7.96%$391.07
53,500 at 7.97%$391.45
53,500 at 7.98%$391.82
53,500 at 7.99%$392.19
53,500 at 8%$392.56
More Amounts
What is the down payment for a $53,500 house? How much do you need to put down?
Percent Down Down Payment
1%535
2%1,070
3%1,605
4%2,140
5%2,675
6%3,210
7%3,745
8%4,280
9%4,815
10%5,350
11%5,885
12%6,420
13%6,955
14%7,490
15%8,025
16%8,560
17%9,095
18%9,630
19%10,165
20%10,700
Percent Down Down Payment
21%11,235
22%11,770
23%12,305
24%12,840
25%13,375
26%13,910
27%14,445
28%14,980
29%15,515
30%16,050
31%16,585
32%17,120
33%17,655
34%18,190
35%18,725
36%19,260
37%19,795
38%20,330
39%20,865
40%21,400
Percent Down Down Payment
41%21,935
42%22,470
43%23,005
44%23,540
45%24,075
46%24,610
47%25,145
48%25,680
49%26,215
50%26,750
51%27,285
52%27,820
53%28,355
54%28,890
55%29,425
56%29,960
57%30,495
58%31,030
59%31,565
60%32,100
Percent Down Down Payment
61%32,635
62%33,170
63%33,705
64%34,240
65%34,775
66%35,310
67%35,845
68%36,380
69%36,915
70%37,450
71%37,985
72%38,520
73%39,055
74%39,590
75%40,125
76%40,660
77%41,195
78%41,730
79%42,265
80%42,800
Percent Down Down Payment
81%43,335
82%43,870
83%44,405
84%44,940
85%45,475
86%46,010
87%46,545
88%47,080
89%47,615
90%48,150
91%48,685
92%49,220
93%49,755
94%50,290
95%50,825
96%51,360
97%51,895
98%52,430
99%52,965
100%53,500
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.