$60,550 Mortgage for 30 Years

What is the monthly payment of a 60,550 dollar loan?
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Loan Tables for a $60,550 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 61k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $60,550 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
60,550 at 2.01%$224.11
60,550 at 2.02%$224.41
60,550 at 2.03%$224.71
60,550 at 2.04%$225.02
60,550 at 2.05%$225.32
60,550 at 2.06%$225.63
60,550 at 2.07%$225.93
60,550 at 2.08%$226.23
60,550 at 2.09%$226.54
60,550 at 2.1%$226.84
60,550 at 2.11%$227.15
60,550 at 2.12%$227.46
60,550 at 2.13%$227.76
60,550 at 2.14%$228.07
60,550 at 2.15%$228.37
60,550 at 2.16%$228.68
60,550 at 2.17%$228.99
60,550 at 2.18%$229.29
60,550 at 2.19%$229.60
60,550 at 2.2%$229.91
60,550 at 2.21%$230.22
60,550 at 2.22%$230.52
60,550 at 2.23%$230.83
60,550 at 2.24%$231.14
60,550 at 2.25%$231.45
60,550 at 2.26%$231.76
60,550 at 2.27%$232.07
60,550 at 2.28%$232.38
60,550 at 2.29%$232.69
60,550 at 2.3%$233.00
60,550 at 2.31%$233.31
60,550 at 2.32%$233.62
60,550 at 2.33%$233.93
60,550 at 2.34%$234.24
60,550 at 2.35%$234.55
60,550 at 2.36%$234.86
60,550 at 2.37%$235.17
60,550 at 2.38%$235.49
60,550 at 2.39%$235.80
60,550 at 2.4%$236.11
60,550 at 2.41%$236.42
60,550 at 2.42%$236.73
60,550 at 2.43%$237.05
60,550 at 2.44%$237.36
60,550 at 2.45%$237.67
60,550 at 2.46%$237.99
60,550 at 2.47%$238.30
60,550 at 2.48%$238.62
60,550 at 2.49%$238.93
60,550 at 2.5%$239.25
60,550 at 2.51%$239.56
60,550 at 2.52%$239.88
60,550 at 2.53%$240.19
60,550 at 2.54%$240.51
60,550 at 2.55%$240.82
60,550 at 2.56%$241.14
60,550 at 2.57%$241.46
60,550 at 2.58%$241.77
60,550 at 2.59%$242.09
60,550 at 2.6%$242.41
60,550 at 2.61%$242.72
60,550 at 2.62%$243.04
60,550 at 2.63%$243.36
60,550 at 2.64%$243.68
60,550 at 2.65%$243.99
60,550 at 2.66%$244.31
60,550 at 2.67%$244.63
60,550 at 2.68%$244.95
60,550 at 2.69%$245.27
60,550 at 2.7%$245.59
60,550 at 2.71%$245.91
60,550 at 2.72%$246.23
60,550 at 2.73%$246.55
60,550 at 2.74%$246.87
60,550 at 2.75%$247.19
60,550 at 2.76%$247.51
60,550 at 2.77%$247.83
60,550 at 2.78%$248.15
60,550 at 2.79%$248.47
60,550 at 2.8%$248.80
60,550 at 2.81%$249.12
60,550 at 2.82%$249.44
60,550 at 2.83%$249.76
60,550 at 2.84%$250.09
60,550 at 2.85%$250.41
60,550 at 2.86%$250.73
60,550 at 2.87%$251.06
60,550 at 2.88%$251.38
60,550 at 2.89%$251.70
60,550 at 2.9%$252.03
60,550 at 2.91%$252.35
60,550 at 2.92%$252.68
60,550 at 2.93%$253.00
60,550 at 2.94%$253.33
60,550 at 2.95%$253.65
60,550 at 2.96%$253.98
60,550 at 2.97%$254.30
60,550 at 2.98%$254.63
60,550 at 2.99%$254.95
60,550 at 3%$255.28
60,550 at 3.01%$255.61
60,550 at 3.02%$255.93
60,550 at 3.03%$256.26
60,550 at 3.04%$256.59
60,550 at 3.05%$256.92
60,550 at 3.06%$257.24
60,550 at 3.07%$257.57
60,550 at 3.08%$257.90
60,550 at 3.09%$258.23
60,550 at 3.1%$258.56
60,550 at 3.11%$258.89
60,550 at 3.12%$259.22
60,550 at 3.13%$259.55
60,550 at 3.14%$259.88
60,550 at 3.15%$260.21
60,550 at 3.16%$260.54
60,550 at 3.17%$260.87
60,550 at 3.18%$261.20
60,550 at 3.19%$261.53
60,550 at 3.2%$261.86
60,550 at 3.21%$262.19
60,550 at 3.22%$262.52
60,550 at 3.23%$262.85
60,550 at 3.24%$263.19
60,550 at 3.25%$263.52
60,550 at 3.26%$263.85
60,550 at 3.27%$264.18
60,550 at 3.28%$264.52
60,550 at 3.29%$264.85
60,550 at 3.3%$265.18
60,550 at 3.31%$265.52
60,550 at 3.32%$265.85
60,550 at 3.33%$266.18
60,550 at 3.34%$266.52
60,550 at 3.35%$266.85
60,550 at 3.36%$267.19
60,550 at 3.37%$267.52
60,550 at 3.38%$267.86
60,550 at 3.39%$268.19
60,550 at 3.4%$268.53
60,550 at 3.41%$268.86
60,550 at 3.42%$269.20
60,550 at 3.43%$269.54
60,550 at 3.44%$269.87
60,550 at 3.45%$270.21
60,550 at 3.46%$270.55
60,550 at 3.47%$270.88
60,550 at 3.48%$271.22
60,550 at 3.49%$271.56
60,550 at 3.5%$271.90
Interest Rate 30 Year
60,550 at 3.51%$272.23
60,550 at 3.52%$272.57
60,550 at 3.53%$272.91
60,550 at 3.54%$273.25
60,550 at 3.55%$273.59
60,550 at 3.56%$273.93
60,550 at 3.57%$274.27
60,550 at 3.58%$274.61
60,550 at 3.59%$274.95
60,550 at 3.6%$275.29
60,550 at 3.61%$275.63
60,550 at 3.62%$275.97
60,550 at 3.63%$276.31
60,550 at 3.64%$276.65
60,550 at 3.65%$276.99
60,550 at 3.66%$277.33
60,550 at 3.67%$277.67
60,550 at 3.68%$278.02
60,550 at 3.69%$278.36
60,550 at 3.7%$278.70
60,550 at 3.71%$279.04
60,550 at 3.72%$279.39
60,550 at 3.73%$279.73
60,550 at 3.74%$280.07
60,550 at 3.75%$280.42
60,550 at 3.76%$280.76
60,550 at 3.77%$281.10
60,550 at 3.78%$281.45
60,550 at 3.79%$281.79
60,550 at 3.8%$282.14
60,550 at 3.81%$282.48
60,550 at 3.82%$282.83
60,550 at 3.83%$283.17
60,550 at 3.84%$283.52
60,550 at 3.85%$283.86
60,550 at 3.86%$284.21
60,550 at 3.87%$284.56
60,550 at 3.88%$284.90
60,550 at 3.89%$285.25
60,550 at 3.9%$285.60
60,550 at 3.91%$285.94
60,550 at 3.92%$286.29
60,550 at 3.93%$286.64
60,550 at 3.94%$286.98
60,550 at 3.95%$287.33
60,550 at 3.96%$287.68
60,550 at 3.97%$288.03
60,550 at 3.98%$288.38
60,550 at 3.99%$288.73
60,550 at 4%$289.07
60,550 at 4.01%$289.42
60,550 at 4.02%$289.77
60,550 at 4.03%$290.12
60,550 at 4.04%$290.47
60,550 at 4.05%$290.82
60,550 at 4.06%$291.17
60,550 at 4.07%$291.52
60,550 at 4.08%$291.87
60,550 at 4.09%$292.23
60,550 at 4.1%$292.58
60,550 at 4.11%$292.93
60,550 at 4.12%$293.28
60,550 at 4.13%$293.63
60,550 at 4.14%$293.98
60,550 at 4.15%$294.34
60,550 at 4.16%$294.69
60,550 at 4.17%$295.04
60,550 at 4.18%$295.39
60,550 at 4.19%$295.75
60,550 at 4.2%$296.10
60,550 at 4.21%$296.45
60,550 at 4.22%$296.81
60,550 at 4.23%$297.16
60,550 at 4.24%$297.52
60,550 at 4.25%$297.87
60,550 at 4.26%$298.22
60,550 at 4.27%$298.58
60,550 at 4.28%$298.93
60,550 at 4.29%$299.29
60,550 at 4.3%$299.64
60,550 at 4.31%$300.00
60,550 at 4.32%$300.36
60,550 at 4.33%$300.71
60,550 at 4.34%$301.07
60,550 at 4.35%$301.43
60,550 at 4.36%$301.78
60,550 at 4.37%$302.14
60,550 at 4.38%$302.50
60,550 at 4.39%$302.85
60,550 at 4.4%$303.21
60,550 at 4.41%$303.57
60,550 at 4.42%$303.93
60,550 at 4.43%$304.28
60,550 at 4.44%$304.64
60,550 at 4.45%$305.00
60,550 at 4.46%$305.36
60,550 at 4.47%$305.72
60,550 at 4.48%$306.08
60,550 at 4.49%$306.44
60,550 at 4.5%$306.80
60,550 at 4.51%$307.16
60,550 at 4.52%$307.52
60,550 at 4.53%$307.88
60,550 at 4.54%$308.24
60,550 at 4.55%$308.60
60,550 at 4.56%$308.96
60,550 at 4.57%$309.32
60,550 at 4.58%$309.68
60,550 at 4.59%$310.04
60,550 at 4.6%$310.41
60,550 at 4.61%$310.77
60,550 at 4.62%$311.13
60,550 at 4.63%$311.49
60,550 at 4.64%$311.86
60,550 at 4.65%$312.22
60,550 at 4.66%$312.58
60,550 at 4.67%$312.94
60,550 at 4.68%$313.31
60,550 at 4.69%$313.67
60,550 at 4.7%$314.04
60,550 at 4.71%$314.40
60,550 at 4.72%$314.76
60,550 at 4.73%$315.13
60,550 at 4.74%$315.49
60,550 at 4.75%$315.86
60,550 at 4.76%$316.22
60,550 at 4.77%$316.59
60,550 at 4.78%$316.95
60,550 at 4.79%$317.32
60,550 at 4.8%$317.68
60,550 at 4.81%$318.05
60,550 at 4.82%$318.42
60,550 at 4.83%$318.78
60,550 at 4.84%$319.15
60,550 at 4.85%$319.52
60,550 at 4.86%$319.88
60,550 at 4.87%$320.25
60,550 at 4.88%$320.62
60,550 at 4.89%$320.99
60,550 at 4.9%$321.36
60,550 at 4.91%$321.72
60,550 at 4.92%$322.09
60,550 at 4.93%$322.46
60,550 at 4.94%$322.83
60,550 at 4.95%$323.20
60,550 at 4.96%$323.57
60,550 at 4.97%$323.94
60,550 at 4.98%$324.31
60,550 at 4.99%$324.68
60,550 at 5%$325.05
Interest Rate 30 Year
60,550 at 5.01%$325.42
60,550 at 5.02%$325.79
60,550 at 5.03%$326.16
60,550 at 5.04%$326.53
60,550 at 5.05%$326.90
60,550 at 5.06%$327.27
60,550 at 5.07%$327.64
60,550 at 5.08%$328.01
60,550 at 5.09%$328.38
60,550 at 5.1%$328.76
60,550 at 5.11%$329.13
60,550 at 5.12%$329.50
60,550 at 5.13%$329.87
60,550 at 5.14%$330.25
60,550 at 5.15%$330.62
60,550 at 5.16%$330.99
60,550 at 5.17%$331.37
60,550 at 5.18%$331.74
60,550 at 5.19%$332.11
60,550 at 5.2%$332.49
60,550 at 5.21%$332.86
60,550 at 5.22%$333.24
60,550 at 5.23%$333.61
60,550 at 5.24%$333.98
60,550 at 5.25%$334.36
60,550 at 5.26%$334.73
60,550 at 5.27%$335.11
60,550 at 5.28%$335.49
60,550 at 5.29%$335.86
60,550 at 5.3%$336.24
60,550 at 5.31%$336.61
60,550 at 5.32%$336.99
60,550 at 5.33%$337.37
60,550 at 5.34%$337.74
60,550 at 5.35%$338.12
60,550 at 5.36%$338.50
60,550 at 5.37%$338.87
60,550 at 5.38%$339.25
60,550 at 5.39%$339.63
60,550 at 5.4%$340.01
60,550 at 5.41%$340.38
60,550 at 5.42%$340.76
60,550 at 5.43%$341.14
60,550 at 5.44%$341.52
60,550 at 5.45%$341.90
60,550 at 5.46%$342.28
60,550 at 5.47%$342.66
60,550 at 5.48%$343.04
60,550 at 5.49%$343.42
60,550 at 5.5%$343.80
60,550 at 5.51%$344.18
60,550 at 5.52%$344.56
60,550 at 5.53%$344.94
60,550 at 5.54%$345.32
60,550 at 5.55%$345.70
60,550 at 5.56%$346.08
60,550 at 5.57%$346.46
60,550 at 5.58%$346.84
60,550 at 5.59%$347.22
60,550 at 5.6%$347.60
60,550 at 5.61%$347.99
60,550 at 5.62%$348.37
60,550 at 5.63%$348.75
60,550 at 5.64%$349.13
60,550 at 5.65%$349.52
60,550 at 5.66%$349.90
60,550 at 5.67%$350.28
60,550 at 5.68%$350.67
60,550 at 5.69%$351.05
60,550 at 5.7%$351.43
60,550 at 5.71%$351.82
60,550 at 5.72%$352.20
60,550 at 5.73%$352.58
60,550 at 5.74%$352.97
60,550 at 5.75%$353.35
60,550 at 5.76%$353.74
60,550 at 5.77%$354.12
60,550 at 5.78%$354.51
60,550 at 5.79%$354.89
60,550 at 5.8%$355.28
60,550 at 5.81%$355.66
60,550 at 5.82%$356.05
60,550 at 5.83%$356.44
60,550 at 5.84%$356.82
60,550 at 5.85%$357.21
60,550 at 5.86%$357.60
60,550 at 5.87%$357.98
60,550 at 5.88%$358.37
60,550 at 5.89%$358.76
60,550 at 5.9%$359.14
60,550 at 5.91%$359.53
60,550 at 5.92%$359.92
60,550 at 5.93%$360.31
60,550 at 5.94%$360.70
60,550 at 5.95%$361.08
60,550 at 5.96%$361.47
60,550 at 5.97%$361.86
60,550 at 5.98%$362.25
60,550 at 5.99%$362.64
60,550 at 6%$363.03
60,550 at 6.01%$363.42
60,550 at 6.02%$363.81
60,550 at 6.03%$364.20
60,550 at 6.04%$364.59
60,550 at 6.05%$364.98
60,550 at 6.06%$365.37
60,550 at 6.07%$365.76
60,550 at 6.08%$366.15
60,550 at 6.09%$366.54
60,550 at 6.1%$366.93
60,550 at 6.11%$367.32
60,550 at 6.12%$367.71
60,550 at 6.13%$368.10
60,550 at 6.14%$368.50
60,550 at 6.15%$368.89
60,550 at 6.16%$369.28
60,550 at 6.17%$369.67
60,550 at 6.18%$370.06
60,550 at 6.19%$370.46
60,550 at 6.2%$370.85
60,550 at 6.21%$371.24
60,550 at 6.22%$371.64
60,550 at 6.23%$372.03
60,550 at 6.24%$372.42
60,550 at 6.25%$372.82
60,550 at 6.26%$373.21
60,550 at 6.27%$373.60
60,550 at 6.28%$374.00
60,550 at 6.29%$374.39
60,550 at 6.3%$374.79
60,550 at 6.31%$375.18
60,550 at 6.32%$375.58
60,550 at 6.33%$375.97
60,550 at 6.34%$376.37
60,550 at 6.35%$376.76
60,550 at 6.36%$377.16
60,550 at 6.37%$377.56
60,550 at 6.38%$377.95
60,550 at 6.39%$378.35
60,550 at 6.4%$378.74
60,550 at 6.41%$379.14
60,550 at 6.42%$379.54
60,550 at 6.43%$379.93
60,550 at 6.44%$380.33
60,550 at 6.45%$380.73
60,550 at 6.46%$381.13
60,550 at 6.47%$381.52
60,550 at 6.48%$381.92
60,550 at 6.49%$382.32
60,550 at 6.5%$382.72
Interest Rate 30 Year
60,550 at 6.51%$383.12
60,550 at 6.52%$383.51
60,550 at 6.53%$383.91
60,550 at 6.54%$384.31
60,550 at 6.55%$384.71
60,550 at 6.56%$385.11
60,550 at 6.57%$385.51
60,550 at 6.58%$385.91
60,550 at 6.59%$386.31
60,550 at 6.6%$386.71
60,550 at 6.61%$387.11
60,550 at 6.62%$387.51
60,550 at 6.63%$387.91
60,550 at 6.64%$388.31
60,550 at 6.65%$388.71
60,550 at 6.66%$389.11
60,550 at 6.67%$389.51
60,550 at 6.68%$389.91
60,550 at 6.69%$390.31
60,550 at 6.7%$390.72
60,550 at 6.71%$391.12
60,550 at 6.72%$391.52
60,550 at 6.73%$391.92
60,550 at 6.74%$392.32
60,550 at 6.75%$392.73
60,550 at 6.76%$393.13
60,550 at 6.77%$393.53
60,550 at 6.78%$393.93
60,550 at 6.79%$394.34
60,550 at 6.8%$394.74
60,550 at 6.81%$395.14
60,550 at 6.82%$395.55
60,550 at 6.83%$395.95
60,550 at 6.84%$396.36
60,550 at 6.85%$396.76
60,550 at 6.86%$397.16
60,550 at 6.87%$397.57
60,550 at 6.88%$397.97
60,550 at 6.89%$398.38
60,550 at 6.9%$398.78
60,550 at 6.91%$399.19
60,550 at 6.92%$399.59
60,550 at 6.93%$400.00
60,550 at 6.94%$400.40
60,550 at 6.95%$400.81
60,550 at 6.96%$401.22
60,550 at 6.97%$401.62
60,550 at 6.98%$402.03
60,550 at 6.99%$402.43
60,550 at 7%$402.84
60,550 at 7.01%$403.25
60,550 at 7.02%$403.65
60,550 at 7.03%$404.06
60,550 at 7.04%$404.47
60,550 at 7.05%$404.88
60,550 at 7.06%$405.28
60,550 at 7.07%$405.69
60,550 at 7.08%$406.10
60,550 at 7.09%$406.51
60,550 at 7.1%$406.92
60,550 at 7.11%$407.32
60,550 at 7.12%$407.73
60,550 at 7.13%$408.14
60,550 at 7.14%$408.55
60,550 at 7.15%$408.96
60,550 at 7.16%$409.37
60,550 at 7.17%$409.78
60,550 at 7.18%$410.19
60,550 at 7.19%$410.60
60,550 at 7.2%$411.01
60,550 at 7.21%$411.42
60,550 at 7.22%$411.83
60,550 at 7.23%$412.24
60,550 at 7.24%$412.65
60,550 at 7.25%$413.06
60,550 at 7.26%$413.47
60,550 at 7.27%$413.88
60,550 at 7.28%$414.29
60,550 at 7.29%$414.70
60,550 at 7.3%$415.11
60,550 at 7.31%$415.52
60,550 at 7.32%$415.94
60,550 at 7.33%$416.35
60,550 at 7.34%$416.76
60,550 at 7.35%$417.17
60,550 at 7.36%$417.58
60,550 at 7.37%$418.00
60,550 at 7.38%$418.41
60,550 at 7.39%$418.82
60,550 at 7.4%$419.24
60,550 at 7.41%$419.65
60,550 at 7.42%$420.06
60,550 at 7.43%$420.48
60,550 at 7.44%$420.89
60,550 at 7.45%$421.30
60,550 at 7.46%$421.72
60,550 at 7.47%$422.13
60,550 at 7.48%$422.55
60,550 at 7.49%$422.96
60,550 at 7.5%$423.37
60,550 at 7.51%$423.79
60,550 at 7.52%$424.20
60,550 at 7.53%$424.62
60,550 at 7.54%$425.03
60,550 at 7.55%$425.45
60,550 at 7.56%$425.86
60,550 at 7.57%$426.28
60,550 at 7.58%$426.70
60,550 at 7.59%$427.11
60,550 at 7.6%$427.53
60,550 at 7.61%$427.94
60,550 at 7.62%$428.36
60,550 at 7.63%$428.78
60,550 at 7.64%$429.19
60,550 at 7.65%$429.61
60,550 at 7.66%$430.03
60,550 at 7.67%$430.45
60,550 at 7.68%$430.86
60,550 at 7.69%$431.28
60,550 at 7.7%$431.70
60,550 at 7.71%$432.12
60,550 at 7.72%$432.53
60,550 at 7.73%$432.95
60,550 at 7.74%$433.37
60,550 at 7.75%$433.79
60,550 at 7.76%$434.21
60,550 at 7.77%$434.62
60,550 at 7.78%$435.04
60,550 at 7.79%$435.46
60,550 at 7.8%$435.88
60,550 at 7.81%$436.30
60,550 at 7.82%$436.72
60,550 at 7.83%$437.14
60,550 at 7.84%$437.56
60,550 at 7.85%$437.98
60,550 at 7.86%$438.40
60,550 at 7.87%$438.82
60,550 at 7.88%$439.24
60,550 at 7.89%$439.66
60,550 at 7.9%$440.08
60,550 at 7.91%$440.50
60,550 at 7.92%$440.92
60,550 at 7.93%$441.34
60,550 at 7.94%$441.76
60,550 at 7.95%$442.19
60,550 at 7.96%$442.61
60,550 at 7.97%$443.03
60,550 at 7.98%$443.45
60,550 at 7.99%$443.87
60,550 at 8%$444.29
More Amounts
What is the down payment for a $60,550 house? How much do you need to put down?
Percent Down Down Payment
1%606
2%1,211
3%1,817
4%2,422
5%3,028
6%3,633
7%4,239
8%4,844
9%5,450
10%6,055
11%6,661
12%7,266
13%7,872
14%8,477
15%9,083
16%9,688
17%10,294
18%10,899
19%11,505
20%12,110
Percent Down Down Payment
21%12,716
22%13,321
23%13,927
24%14,532
25%15,138
26%15,743
27%16,349
28%16,954
29%17,560
30%18,165
31%18,771
32%19,376
33%19,982
34%20,587
35%21,193
36%21,798
37%22,404
38%23,009
39%23,615
40%24,220
Percent Down Down Payment
41%24,826
42%25,431
43%26,037
44%26,642
45%27,248
46%27,853
47%28,459
48%29,064
49%29,670
50%30,275
51%30,881
52%31,486
53%32,092
54%32,697
55%33,303
56%33,908
57%34,514
58%35,119
59%35,725
60%36,330
Percent Down Down Payment
61%36,936
62%37,541
63%38,147
64%38,752
65%39,358
66%39,963
67%40,569
68%41,174
69%41,780
70%42,385
71%42,991
72%43,596
73%44,202
74%44,807
75%45,413
76%46,018
77%46,624
78%47,229
79%47,835
80%48,440
Percent Down Down Payment
81%49,046
82%49,651
83%50,257
84%50,862
85%51,468
86%52,073
87%52,679
88%53,284
89%53,890
90%54,495
91%55,101
92%55,706
93%56,312
94%56,917
95%57,523
96%58,128
97%58,734
98%59,339
99%59,945
100%60,550
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.