$55,250 Mortgage for 30 Years

What is the monthly payment of a 55,250 dollar loan?
$
$
%
%
years
Loan Tables for a $55,250 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 55k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $55,250 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
55,250 at 2.01%$204.49
55,250 at 2.02%$204.77
55,250 at 2.03%$205.04
55,250 at 2.04%$205.32
55,250 at 2.05%$205.60
55,250 at 2.06%$205.88
55,250 at 2.07%$206.15
55,250 at 2.08%$206.43
55,250 at 2.09%$206.71
55,250 at 2.1%$206.99
55,250 at 2.11%$207.27
55,250 at 2.12%$207.55
55,250 at 2.13%$207.83
55,250 at 2.14%$208.10
55,250 at 2.15%$208.38
55,250 at 2.16%$208.66
55,250 at 2.17%$208.94
55,250 at 2.18%$209.22
55,250 at 2.19%$209.50
55,250 at 2.2%$209.78
55,250 at 2.21%$210.07
55,250 at 2.22%$210.35
55,250 at 2.23%$210.63
55,250 at 2.24%$210.91
55,250 at 2.25%$211.19
55,250 at 2.26%$211.47
55,250 at 2.27%$211.76
55,250 at 2.28%$212.04
55,250 at 2.29%$212.32
55,250 at 2.3%$212.60
55,250 at 2.31%$212.89
55,250 at 2.32%$213.17
55,250 at 2.33%$213.45
55,250 at 2.34%$213.74
55,250 at 2.35%$214.02
55,250 at 2.36%$214.30
55,250 at 2.37%$214.59
55,250 at 2.38%$214.87
55,250 at 2.39%$215.16
55,250 at 2.4%$215.44
55,250 at 2.41%$215.73
55,250 at 2.42%$216.01
55,250 at 2.43%$216.30
55,250 at 2.44%$216.58
55,250 at 2.45%$216.87
55,250 at 2.46%$217.16
55,250 at 2.47%$217.44
55,250 at 2.48%$217.73
55,250 at 2.49%$218.02
55,250 at 2.5%$218.30
55,250 at 2.51%$218.59
55,250 at 2.52%$218.88
55,250 at 2.53%$219.17
55,250 at 2.54%$219.46
55,250 at 2.55%$219.74
55,250 at 2.56%$220.03
55,250 at 2.57%$220.32
55,250 at 2.58%$220.61
55,250 at 2.59%$220.90
55,250 at 2.6%$221.19
55,250 at 2.61%$221.48
55,250 at 2.62%$221.77
55,250 at 2.63%$222.06
55,250 at 2.64%$222.35
55,250 at 2.65%$222.64
55,250 at 2.66%$222.93
55,250 at 2.67%$223.22
55,250 at 2.68%$223.51
55,250 at 2.69%$223.80
55,250 at 2.7%$224.09
55,250 at 2.71%$224.38
55,250 at 2.72%$224.68
55,250 at 2.73%$224.97
55,250 at 2.74%$225.26
55,250 at 2.75%$225.55
55,250 at 2.76%$225.85
55,250 at 2.77%$226.14
55,250 at 2.78%$226.43
55,250 at 2.79%$226.73
55,250 at 2.8%$227.02
55,250 at 2.81%$227.31
55,250 at 2.82%$227.61
55,250 at 2.83%$227.90
55,250 at 2.84%$228.20
55,250 at 2.85%$228.49
55,250 at 2.86%$228.79
55,250 at 2.87%$229.08
55,250 at 2.88%$229.38
55,250 at 2.89%$229.67
55,250 at 2.9%$229.97
55,250 at 2.91%$230.26
55,250 at 2.92%$230.56
55,250 at 2.93%$230.86
55,250 at 2.94%$231.15
55,250 at 2.95%$231.45
55,250 at 2.96%$231.75
55,250 at 2.97%$232.04
55,250 at 2.98%$232.34
55,250 at 2.99%$232.64
55,250 at 3%$232.94
55,250 at 3.01%$233.23
55,250 at 3.02%$233.53
55,250 at 3.03%$233.83
55,250 at 3.04%$234.13
55,250 at 3.05%$234.43
55,250 at 3.06%$234.73
55,250 at 3.07%$235.03
55,250 at 3.08%$235.33
55,250 at 3.09%$235.63
55,250 at 3.1%$235.93
55,250 at 3.11%$236.23
55,250 at 3.12%$236.53
55,250 at 3.13%$236.83
55,250 at 3.14%$237.13
55,250 at 3.15%$237.43
55,250 at 3.16%$237.73
55,250 at 3.17%$238.03
55,250 at 3.18%$238.33
55,250 at 3.19%$238.64
55,250 at 3.2%$238.94
55,250 at 3.21%$239.24
55,250 at 3.22%$239.54
55,250 at 3.23%$239.85
55,250 at 3.24%$240.15
55,250 at 3.25%$240.45
55,250 at 3.26%$240.75
55,250 at 3.27%$241.06
55,250 at 3.28%$241.36
55,250 at 3.29%$241.67
55,250 at 3.3%$241.97
55,250 at 3.31%$242.27
55,250 at 3.32%$242.58
55,250 at 3.33%$242.88
55,250 at 3.34%$243.19
55,250 at 3.35%$243.49
55,250 at 3.36%$243.80
55,250 at 3.37%$244.11
55,250 at 3.38%$244.41
55,250 at 3.39%$244.72
55,250 at 3.4%$245.02
55,250 at 3.41%$245.33
55,250 at 3.42%$245.64
55,250 at 3.43%$245.94
55,250 at 3.44%$246.25
55,250 at 3.45%$246.56
55,250 at 3.46%$246.87
55,250 at 3.47%$247.17
55,250 at 3.48%$247.48
55,250 at 3.49%$247.79
55,250 at 3.5%$248.10
Interest Rate 30 Year
55,250 at 3.51%$248.41
55,250 at 3.52%$248.71
55,250 at 3.53%$249.02
55,250 at 3.54%$249.33
55,250 at 3.55%$249.64
55,250 at 3.56%$249.95
55,250 at 3.57%$250.26
55,250 at 3.58%$250.57
55,250 at 3.59%$250.88
55,250 at 3.6%$251.19
55,250 at 3.61%$251.50
55,250 at 3.62%$251.81
55,250 at 3.63%$252.12
55,250 at 3.64%$252.44
55,250 at 3.65%$252.75
55,250 at 3.66%$253.06
55,250 at 3.67%$253.37
55,250 at 3.68%$253.68
55,250 at 3.69%$253.99
55,250 at 3.7%$254.31
55,250 at 3.71%$254.62
55,250 at 3.72%$254.93
55,250 at 3.73%$255.24
55,250 at 3.74%$255.56
55,250 at 3.75%$255.87
55,250 at 3.76%$256.18
55,250 at 3.77%$256.50
55,250 at 3.78%$256.81
55,250 at 3.79%$257.13
55,250 at 3.8%$257.44
55,250 at 3.81%$257.76
55,250 at 3.82%$258.07
55,250 at 3.83%$258.39
55,250 at 3.84%$258.70
55,250 at 3.85%$259.02
55,250 at 3.86%$259.33
55,250 at 3.87%$259.65
55,250 at 3.88%$259.96
55,250 at 3.89%$260.28
55,250 at 3.9%$260.60
55,250 at 3.91%$260.91
55,250 at 3.92%$261.23
55,250 at 3.93%$261.55
55,250 at 3.94%$261.86
55,250 at 3.95%$262.18
55,250 at 3.96%$262.50
55,250 at 3.97%$262.82
55,250 at 3.98%$263.14
55,250 at 3.99%$263.45
55,250 at 4%$263.77
55,250 at 4.01%$264.09
55,250 at 4.02%$264.41
55,250 at 4.03%$264.73
55,250 at 4.04%$265.05
55,250 at 4.05%$265.37
55,250 at 4.06%$265.69
55,250 at 4.07%$266.01
55,250 at 4.08%$266.33
55,250 at 4.09%$266.65
55,250 at 4.1%$266.97
55,250 at 4.11%$267.29
55,250 at 4.12%$267.61
55,250 at 4.13%$267.93
55,250 at 4.14%$268.25
55,250 at 4.15%$268.57
55,250 at 4.16%$268.89
55,250 at 4.17%$269.22
55,250 at 4.18%$269.54
55,250 at 4.19%$269.86
55,250 at 4.2%$270.18
55,250 at 4.21%$270.50
55,250 at 4.22%$270.83
55,250 at 4.23%$271.15
55,250 at 4.24%$271.47
55,250 at 4.25%$271.80
55,250 at 4.26%$272.12
55,250 at 4.27%$272.44
55,250 at 4.28%$272.77
55,250 at 4.29%$273.09
55,250 at 4.3%$273.42
55,250 at 4.31%$273.74
55,250 at 4.32%$274.07
55,250 at 4.33%$274.39
55,250 at 4.34%$274.72
55,250 at 4.35%$275.04
55,250 at 4.36%$275.37
55,250 at 4.37%$275.69
55,250 at 4.38%$276.02
55,250 at 4.39%$276.34
55,250 at 4.4%$276.67
55,250 at 4.41%$277.00
55,250 at 4.42%$277.32
55,250 at 4.43%$277.65
55,250 at 4.44%$277.98
55,250 at 4.45%$278.30
55,250 at 4.46%$278.63
55,250 at 4.47%$278.96
55,250 at 4.48%$279.29
55,250 at 4.49%$279.62
55,250 at 4.5%$279.94
55,250 at 4.51%$280.27
55,250 at 4.52%$280.60
55,250 at 4.53%$280.93
55,250 at 4.54%$281.26
55,250 at 4.55%$281.59
55,250 at 4.56%$281.92
55,250 at 4.57%$282.25
55,250 at 4.58%$282.58
55,250 at 4.59%$282.91
55,250 at 4.6%$283.24
55,250 at 4.61%$283.57
55,250 at 4.62%$283.90
55,250 at 4.63%$284.23
55,250 at 4.64%$284.56
55,250 at 4.65%$284.89
55,250 at 4.66%$285.22
55,250 at 4.67%$285.55
55,250 at 4.68%$285.88
55,250 at 4.69%$286.22
55,250 at 4.7%$286.55
55,250 at 4.71%$286.88
55,250 at 4.72%$287.21
55,250 at 4.73%$287.54
55,250 at 4.74%$287.88
55,250 at 4.75%$288.21
55,250 at 4.76%$288.54
55,250 at 4.77%$288.88
55,250 at 4.78%$289.21
55,250 at 4.79%$289.54
55,250 at 4.8%$289.88
55,250 at 4.81%$290.21
55,250 at 4.82%$290.55
55,250 at 4.83%$290.88
55,250 at 4.84%$291.21
55,250 at 4.85%$291.55
55,250 at 4.86%$291.88
55,250 at 4.87%$292.22
55,250 at 4.88%$292.56
55,250 at 4.89%$292.89
55,250 at 4.9%$293.23
55,250 at 4.91%$293.56
55,250 at 4.92%$293.90
55,250 at 4.93%$294.23
55,250 at 4.94%$294.57
55,250 at 4.95%$294.91
55,250 at 4.96%$295.24
55,250 at 4.97%$295.58
55,250 at 4.98%$295.92
55,250 at 4.99%$296.26
55,250 at 5%$296.59
Interest Rate 30 Year
55,250 at 5.01%$296.93
55,250 at 5.02%$297.27
55,250 at 5.03%$297.61
55,250 at 5.04%$297.95
55,250 at 5.05%$298.28
55,250 at 5.06%$298.62
55,250 at 5.07%$298.96
55,250 at 5.08%$299.30
55,250 at 5.09%$299.64
55,250 at 5.1%$299.98
55,250 at 5.11%$300.32
55,250 at 5.12%$300.66
55,250 at 5.13%$301.00
55,250 at 5.14%$301.34
55,250 at 5.15%$301.68
55,250 at 5.16%$302.02
55,250 at 5.17%$302.36
55,250 at 5.18%$302.70
55,250 at 5.19%$303.04
55,250 at 5.2%$303.38
55,250 at 5.21%$303.73
55,250 at 5.22%$304.07
55,250 at 5.23%$304.41
55,250 at 5.24%$304.75
55,250 at 5.25%$305.09
55,250 at 5.26%$305.43
55,250 at 5.27%$305.78
55,250 at 5.28%$306.12
55,250 at 5.29%$306.46
55,250 at 5.3%$306.81
55,250 at 5.31%$307.15
55,250 at 5.32%$307.49
55,250 at 5.33%$307.84
55,250 at 5.34%$308.18
55,250 at 5.35%$308.52
55,250 at 5.36%$308.87
55,250 at 5.37%$309.21
55,250 at 5.38%$309.56
55,250 at 5.39%$309.90
55,250 at 5.4%$310.25
55,250 at 5.41%$310.59
55,250 at 5.42%$310.94
55,250 at 5.43%$311.28
55,250 at 5.44%$311.63
55,250 at 5.45%$311.97
55,250 at 5.46%$312.32
55,250 at 5.47%$312.66
55,250 at 5.48%$313.01
55,250 at 5.49%$313.36
55,250 at 5.5%$313.70
55,250 at 5.51%$314.05
55,250 at 5.52%$314.40
55,250 at 5.53%$314.74
55,250 at 5.54%$315.09
55,250 at 5.55%$315.44
55,250 at 5.56%$315.79
55,250 at 5.57%$316.13
55,250 at 5.58%$316.48
55,250 at 5.59%$316.83
55,250 at 5.6%$317.18
55,250 at 5.61%$317.53
55,250 at 5.62%$317.88
55,250 at 5.63%$318.22
55,250 at 5.64%$318.57
55,250 at 5.65%$318.92
55,250 at 5.66%$319.27
55,250 at 5.67%$319.62
55,250 at 5.68%$319.97
55,250 at 5.69%$320.32
55,250 at 5.7%$320.67
55,250 at 5.71%$321.02
55,250 at 5.72%$321.37
55,250 at 5.73%$321.72
55,250 at 5.74%$322.07
55,250 at 5.75%$322.42
55,250 at 5.76%$322.78
55,250 at 5.77%$323.13
55,250 at 5.78%$323.48
55,250 at 5.79%$323.83
55,250 at 5.8%$324.18
55,250 at 5.81%$324.53
55,250 at 5.82%$324.89
55,250 at 5.83%$325.24
55,250 at 5.84%$325.59
55,250 at 5.85%$325.94
55,250 at 5.86%$326.30
55,250 at 5.87%$326.65
55,250 at 5.88%$327.00
55,250 at 5.89%$327.35
55,250 at 5.9%$327.71
55,250 at 5.91%$328.06
55,250 at 5.92%$328.42
55,250 at 5.93%$328.77
55,250 at 5.94%$329.12
55,250 at 5.95%$329.48
55,250 at 5.96%$329.83
55,250 at 5.97%$330.19
55,250 at 5.98%$330.54
55,250 at 5.99%$330.90
55,250 at 6%$331.25
55,250 at 6.01%$331.61
55,250 at 6.02%$331.96
55,250 at 6.03%$332.32
55,250 at 6.04%$332.67
55,250 at 6.05%$333.03
55,250 at 6.06%$333.39
55,250 at 6.07%$333.74
55,250 at 6.08%$334.10
55,250 at 6.09%$334.46
55,250 at 6.1%$334.81
55,250 at 6.11%$335.17
55,250 at 6.12%$335.53
55,250 at 6.13%$335.88
55,250 at 6.14%$336.24
55,250 at 6.15%$336.60
55,250 at 6.16%$336.96
55,250 at 6.17%$337.31
55,250 at 6.18%$337.67
55,250 at 6.19%$338.03
55,250 at 6.2%$338.39
55,250 at 6.21%$338.75
55,250 at 6.22%$339.11
55,250 at 6.23%$339.47
55,250 at 6.24%$339.82
55,250 at 6.25%$340.18
55,250 at 6.26%$340.54
55,250 at 6.27%$340.90
55,250 at 6.28%$341.26
55,250 at 6.29%$341.62
55,250 at 6.3%$341.98
55,250 at 6.31%$342.34
55,250 at 6.32%$342.70
55,250 at 6.33%$343.06
55,250 at 6.34%$343.42
55,250 at 6.35%$343.79
55,250 at 6.36%$344.15
55,250 at 6.37%$344.51
55,250 at 6.38%$344.87
55,250 at 6.39%$345.23
55,250 at 6.4%$345.59
55,250 at 6.41%$345.95
55,250 at 6.42%$346.32
55,250 at 6.43%$346.68
55,250 at 6.44%$347.04
55,250 at 6.45%$347.40
55,250 at 6.46%$347.77
55,250 at 6.47%$348.13
55,250 at 6.48%$348.49
55,250 at 6.49%$348.85
55,250 at 6.5%$349.22
Interest Rate 30 Year
55,250 at 6.51%$349.58
55,250 at 6.52%$349.94
55,250 at 6.53%$350.31
55,250 at 6.54%$350.67
55,250 at 6.55%$351.04
55,250 at 6.56%$351.40
55,250 at 6.57%$351.76
55,250 at 6.58%$352.13
55,250 at 6.59%$352.49
55,250 at 6.6%$352.86
55,250 at 6.61%$353.22
55,250 at 6.62%$353.59
55,250 at 6.63%$353.95
55,250 at 6.64%$354.32
55,250 at 6.65%$354.69
55,250 at 6.66%$355.05
55,250 at 6.67%$355.42
55,250 at 6.68%$355.78
55,250 at 6.69%$356.15
55,250 at 6.7%$356.52
55,250 at 6.71%$356.88
55,250 at 6.72%$357.25
55,250 at 6.73%$357.62
55,250 at 6.74%$357.98
55,250 at 6.75%$358.35
55,250 at 6.76%$358.72
55,250 at 6.77%$359.09
55,250 at 6.78%$359.45
55,250 at 6.79%$359.82
55,250 at 6.8%$360.19
55,250 at 6.81%$360.56
55,250 at 6.82%$360.93
55,250 at 6.83%$361.29
55,250 at 6.84%$361.66
55,250 at 6.85%$362.03
55,250 at 6.86%$362.40
55,250 at 6.87%$362.77
55,250 at 6.88%$363.14
55,250 at 6.89%$363.51
55,250 at 6.9%$363.88
55,250 at 6.91%$364.25
55,250 at 6.92%$364.62
55,250 at 6.93%$364.99
55,250 at 6.94%$365.36
55,250 at 6.95%$365.73
55,250 at 6.96%$366.10
55,250 at 6.97%$366.47
55,250 at 6.98%$366.84
55,250 at 6.99%$367.21
55,250 at 7%$367.58
55,250 at 7.01%$367.95
55,250 at 7.02%$368.32
55,250 at 7.03%$368.69
55,250 at 7.04%$369.07
55,250 at 7.05%$369.44
55,250 at 7.06%$369.81
55,250 at 7.07%$370.18
55,250 at 7.08%$370.55
55,250 at 7.09%$370.93
55,250 at 7.1%$371.30
55,250 at 7.11%$371.67
55,250 at 7.12%$372.04
55,250 at 7.13%$372.42
55,250 at 7.14%$372.79
55,250 at 7.15%$373.16
55,250 at 7.16%$373.54
55,250 at 7.17%$373.91
55,250 at 7.18%$374.28
55,250 at 7.19%$374.66
55,250 at 7.2%$375.03
55,250 at 7.21%$375.40
55,250 at 7.22%$375.78
55,250 at 7.23%$376.15
55,250 at 7.24%$376.53
55,250 at 7.25%$376.90
55,250 at 7.26%$377.28
55,250 at 7.27%$377.65
55,250 at 7.28%$378.03
55,250 at 7.29%$378.40
55,250 at 7.3%$378.78
55,250 at 7.31%$379.15
55,250 at 7.32%$379.53
55,250 at 7.33%$379.90
55,250 at 7.34%$380.28
55,250 at 7.35%$380.66
55,250 at 7.36%$381.03
55,250 at 7.37%$381.41
55,250 at 7.38%$381.79
55,250 at 7.39%$382.16
55,250 at 7.4%$382.54
55,250 at 7.41%$382.92
55,250 at 7.42%$383.29
55,250 at 7.43%$383.67
55,250 at 7.44%$384.05
55,250 at 7.45%$384.43
55,250 at 7.46%$384.80
55,250 at 7.47%$385.18
55,250 at 7.48%$385.56
55,250 at 7.49%$385.94
55,250 at 7.5%$386.32
55,250 at 7.51%$386.69
55,250 at 7.52%$387.07
55,250 at 7.53%$387.45
55,250 at 7.54%$387.83
55,250 at 7.55%$388.21
55,250 at 7.56%$388.59
55,250 at 7.57%$388.97
55,250 at 7.58%$389.35
55,250 at 7.59%$389.73
55,250 at 7.6%$390.11
55,250 at 7.61%$390.49
55,250 at 7.62%$390.87
55,250 at 7.63%$391.25
55,250 at 7.64%$391.63
55,250 at 7.65%$392.01
55,250 at 7.66%$392.39
55,250 at 7.67%$392.77
55,250 at 7.68%$393.15
55,250 at 7.69%$393.53
55,250 at 7.7%$393.91
55,250 at 7.71%$394.29
55,250 at 7.72%$394.67
55,250 at 7.73%$395.05
55,250 at 7.74%$395.44
55,250 at 7.75%$395.82
55,250 at 7.76%$396.20
55,250 at 7.77%$396.58
55,250 at 7.78%$396.96
55,250 at 7.79%$397.35
55,250 at 7.8%$397.73
55,250 at 7.81%$398.11
55,250 at 7.82%$398.49
55,250 at 7.83%$398.88
55,250 at 7.84%$399.26
55,250 at 7.85%$399.64
55,250 at 7.86%$400.03
55,250 at 7.87%$400.41
55,250 at 7.88%$400.79
55,250 at 7.89%$401.18
55,250 at 7.9%$401.56
55,250 at 7.91%$401.94
55,250 at 7.92%$402.33
55,250 at 7.93%$402.71
55,250 at 7.94%$403.10
55,250 at 7.95%$403.48
55,250 at 7.96%$403.87
55,250 at 7.97%$404.25
55,250 at 7.98%$404.63
55,250 at 7.99%$405.02
55,250 at 8%$405.40
More Amounts
What is the down payment for a $55,250 house? How much do you need to put down?
Percent Down Down Payment
1%553
2%1,105
3%1,658
4%2,210
5%2,763
6%3,315
7%3,868
8%4,420
9%4,973
10%5,525
11%6,078
12%6,630
13%7,183
14%7,735
15%8,288
16%8,840
17%9,393
18%9,945
19%10,498
20%11,050
Percent Down Down Payment
21%11,603
22%12,155
23%12,708
24%13,260
25%13,813
26%14,365
27%14,918
28%15,470
29%16,023
30%16,575
31%17,128
32%17,680
33%18,233
34%18,785
35%19,338
36%19,890
37%20,443
38%20,995
39%21,548
40%22,100
Percent Down Down Payment
41%22,653
42%23,205
43%23,758
44%24,310
45%24,863
46%25,415
47%25,968
48%26,520
49%27,073
50%27,625
51%28,178
52%28,730
53%29,283
54%29,835
55%30,388
56%30,940
57%31,493
58%32,045
59%32,598
60%33,150
Percent Down Down Payment
61%33,703
62%34,255
63%34,808
64%35,360
65%35,913
66%36,465
67%37,018
68%37,570
69%38,123
70%38,675
71%39,228
72%39,780
73%40,333
74%40,885
75%41,438
76%41,990
77%42,543
78%43,095
79%43,648
80%44,200
Percent Down Down Payment
81%44,753
82%45,305
83%45,858
84%46,410
85%46,963
86%47,515
87%48,068
88%48,620
89%49,173
90%49,725
91%50,278
92%50,830
93%51,383
94%51,935
95%52,488
96%53,040
97%53,593
98%54,145
99%54,698
100%55,250
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.