$60,700 Mortgage for 30 Years

What is the monthly payment of a 60,700 dollar loan?
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Loan Tables for a $60,700 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 $60,700 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
60,700 at 2.01%$224.66
60,700 at 2.02%$224.97
60,700 at 2.03%$225.27
60,700 at 2.04%$225.58
60,700 at 2.05%$225.88
60,700 at 2.06%$226.18
60,700 at 2.07%$226.49
60,700 at 2.08%$226.80
60,700 at 2.09%$227.10
60,700 at 2.1%$227.41
60,700 at 2.11%$227.71
60,700 at 2.12%$228.02
60,700 at 2.13%$228.33
60,700 at 2.14%$228.63
60,700 at 2.15%$228.94
60,700 at 2.16%$229.25
60,700 at 2.17%$229.55
60,700 at 2.18%$229.86
60,700 at 2.19%$230.17
60,700 at 2.2%$230.48
60,700 at 2.21%$230.79
60,700 at 2.22%$231.10
60,700 at 2.23%$231.40
60,700 at 2.24%$231.71
60,700 at 2.25%$232.02
60,700 at 2.26%$232.33
60,700 at 2.27%$232.64
60,700 at 2.28%$232.95
60,700 at 2.29%$233.26
60,700 at 2.3%$233.57
60,700 at 2.31%$233.89
60,700 at 2.32%$234.20
60,700 at 2.33%$234.51
60,700 at 2.34%$234.82
60,700 at 2.35%$235.13
60,700 at 2.36%$235.44
60,700 at 2.37%$235.76
60,700 at 2.38%$236.07
60,700 at 2.39%$236.38
60,700 at 2.4%$236.69
60,700 at 2.41%$237.01
60,700 at 2.42%$237.32
60,700 at 2.43%$237.64
60,700 at 2.44%$237.95
60,700 at 2.45%$238.26
60,700 at 2.46%$238.58
60,700 at 2.47%$238.89
60,700 at 2.48%$239.21
60,700 at 2.49%$239.52
60,700 at 2.5%$239.84
60,700 at 2.51%$240.15
60,700 at 2.52%$240.47
60,700 at 2.53%$240.79
60,700 at 2.54%$241.10
60,700 at 2.55%$241.42
60,700 at 2.56%$241.74
60,700 at 2.57%$242.05
60,700 at 2.58%$242.37
60,700 at 2.59%$242.69
60,700 at 2.6%$243.01
60,700 at 2.61%$243.32
60,700 at 2.62%$243.64
60,700 at 2.63%$243.96
60,700 at 2.64%$244.28
60,700 at 2.65%$244.60
60,700 at 2.66%$244.92
60,700 at 2.67%$245.24
60,700 at 2.68%$245.56
60,700 at 2.69%$245.88
60,700 at 2.7%$246.20
60,700 at 2.71%$246.52
60,700 at 2.72%$246.84
60,700 at 2.73%$247.16
60,700 at 2.74%$247.48
60,700 at 2.75%$247.80
60,700 at 2.76%$248.12
60,700 at 2.77%$248.45
60,700 at 2.78%$248.77
60,700 at 2.79%$249.09
60,700 at 2.8%$249.41
60,700 at 2.81%$249.74
60,700 at 2.82%$250.06
60,700 at 2.83%$250.38
60,700 at 2.84%$250.71
60,700 at 2.85%$251.03
60,700 at 2.86%$251.35
60,700 at 2.87%$251.68
60,700 at 2.88%$252.00
60,700 at 2.89%$252.33
60,700 at 2.9%$252.65
60,700 at 2.91%$252.98
60,700 at 2.92%$253.30
60,700 at 2.93%$253.63
60,700 at 2.94%$253.95
60,700 at 2.95%$254.28
60,700 at 2.96%$254.61
60,700 at 2.97%$254.93
60,700 at 2.98%$255.26
60,700 at 2.99%$255.59
60,700 at 3%$255.91
60,700 at 3.01%$256.24
60,700 at 3.02%$256.57
60,700 at 3.03%$256.90
60,700 at 3.04%$257.22
60,700 at 3.05%$257.55
60,700 at 3.06%$257.88
60,700 at 3.07%$258.21
60,700 at 3.08%$258.54
60,700 at 3.09%$258.87
60,700 at 3.1%$259.20
60,700 at 3.11%$259.53
60,700 at 3.12%$259.86
60,700 at 3.13%$260.19
60,700 at 3.14%$260.52
60,700 at 3.15%$260.85
60,700 at 3.16%$261.18
60,700 at 3.17%$261.51
60,700 at 3.18%$261.84
60,700 at 3.19%$262.18
60,700 at 3.2%$262.51
60,700 at 3.21%$262.84
60,700 at 3.22%$263.17
60,700 at 3.23%$263.50
60,700 at 3.24%$263.84
60,700 at 3.25%$264.17
60,700 at 3.26%$264.50
60,700 at 3.27%$264.84
60,700 at 3.28%$265.17
60,700 at 3.29%$265.50
60,700 at 3.3%$265.84
60,700 at 3.31%$266.17
60,700 at 3.32%$266.51
60,700 at 3.33%$266.84
60,700 at 3.34%$267.18
60,700 at 3.35%$267.51
60,700 at 3.36%$267.85
60,700 at 3.37%$268.18
60,700 at 3.38%$268.52
60,700 at 3.39%$268.86
60,700 at 3.4%$269.19
60,700 at 3.41%$269.53
60,700 at 3.42%$269.87
60,700 at 3.43%$270.20
60,700 at 3.44%$270.54
60,700 at 3.45%$270.88
60,700 at 3.46%$271.22
60,700 at 3.47%$271.55
60,700 at 3.48%$271.89
60,700 at 3.49%$272.23
60,700 at 3.5%$272.57
Interest Rate 30 Year
60,700 at 3.51%$272.91
60,700 at 3.52%$273.25
60,700 at 3.53%$273.59
60,700 at 3.54%$273.93
60,700 at 3.55%$274.27
60,700 at 3.56%$274.61
60,700 at 3.57%$274.95
60,700 at 3.58%$275.29
60,700 at 3.59%$275.63
60,700 at 3.6%$275.97
60,700 at 3.61%$276.31
60,700 at 3.62%$276.65
60,700 at 3.63%$276.99
60,700 at 3.64%$277.34
60,700 at 3.65%$277.68
60,700 at 3.66%$278.02
60,700 at 3.67%$278.36
60,700 at 3.68%$278.71
60,700 at 3.69%$279.05
60,700 at 3.7%$279.39
60,700 at 3.71%$279.74
60,700 at 3.72%$280.08
60,700 at 3.73%$280.42
60,700 at 3.74%$280.77
60,700 at 3.75%$281.11
60,700 at 3.76%$281.46
60,700 at 3.77%$281.80
60,700 at 3.78%$282.15
60,700 at 3.79%$282.49
60,700 at 3.8%$282.84
60,700 at 3.81%$283.18
60,700 at 3.82%$283.53
60,700 at 3.83%$283.87
60,700 at 3.84%$284.22
60,700 at 3.85%$284.57
60,700 at 3.86%$284.91
60,700 at 3.87%$285.26
60,700 at 3.88%$285.61
60,700 at 3.89%$285.95
60,700 at 3.9%$286.30
60,700 at 3.91%$286.65
60,700 at 3.92%$287.00
60,700 at 3.93%$287.35
60,700 at 3.94%$287.70
60,700 at 3.95%$288.04
60,700 at 3.96%$288.39
60,700 at 3.97%$288.74
60,700 at 3.98%$289.09
60,700 at 3.99%$289.44
60,700 at 4%$289.79
60,700 at 4.01%$290.14
60,700 at 4.02%$290.49
60,700 at 4.03%$290.84
60,700 at 4.04%$291.19
60,700 at 4.05%$291.54
60,700 at 4.06%$291.89
60,700 at 4.07%$292.25
60,700 at 4.08%$292.60
60,700 at 4.09%$292.95
60,700 at 4.1%$293.30
60,700 at 4.11%$293.65
60,700 at 4.12%$294.01
60,700 at 4.13%$294.36
60,700 at 4.14%$294.71
60,700 at 4.15%$295.06
60,700 at 4.16%$295.42
60,700 at 4.17%$295.77
60,700 at 4.18%$296.13
60,700 at 4.19%$296.48
60,700 at 4.2%$296.83
60,700 at 4.21%$297.19
60,700 at 4.22%$297.54
60,700 at 4.23%$297.90
60,700 at 4.24%$298.25
60,700 at 4.25%$298.61
60,700 at 4.26%$298.96
60,700 at 4.27%$299.32
60,700 at 4.28%$299.67
60,700 at 4.29%$300.03
60,700 at 4.3%$300.39
60,700 at 4.31%$300.74
60,700 at 4.32%$301.10
60,700 at 4.33%$301.46
60,700 at 4.34%$301.81
60,700 at 4.35%$302.17
60,700 at 4.36%$302.53
60,700 at 4.37%$302.89
60,700 at 4.38%$303.25
60,700 at 4.39%$303.60
60,700 at 4.4%$303.96
60,700 at 4.41%$304.32
60,700 at 4.42%$304.68
60,700 at 4.43%$305.04
60,700 at 4.44%$305.40
60,700 at 4.45%$305.76
60,700 at 4.46%$306.12
60,700 at 4.47%$306.48
60,700 at 4.48%$306.84
60,700 at 4.49%$307.20
60,700 at 4.5%$307.56
60,700 at 4.51%$307.92
60,700 at 4.52%$308.28
60,700 at 4.53%$308.64
60,700 at 4.54%$309.00
60,700 at 4.55%$309.36
60,700 at 4.56%$309.73
60,700 at 4.57%$310.09
60,700 at 4.58%$310.45
60,700 at 4.59%$310.81
60,700 at 4.6%$311.18
60,700 at 4.61%$311.54
60,700 at 4.62%$311.90
60,700 at 4.63%$312.26
60,700 at 4.64%$312.63
60,700 at 4.65%$312.99
60,700 at 4.66%$313.36
60,700 at 4.67%$313.72
60,700 at 4.68%$314.08
60,700 at 4.69%$314.45
60,700 at 4.7%$314.81
60,700 at 4.71%$315.18
60,700 at 4.72%$315.54
60,700 at 4.73%$315.91
60,700 at 4.74%$316.27
60,700 at 4.75%$316.64
60,700 at 4.76%$317.01
60,700 at 4.77%$317.37
60,700 at 4.78%$317.74
60,700 at 4.79%$318.11
60,700 at 4.8%$318.47
60,700 at 4.81%$318.84
60,700 at 4.82%$319.21
60,700 at 4.83%$319.57
60,700 at 4.84%$319.94
60,700 at 4.85%$320.31
60,700 at 4.86%$320.68
60,700 at 4.87%$321.05
60,700 at 4.88%$321.41
60,700 at 4.89%$321.78
60,700 at 4.9%$322.15
60,700 at 4.91%$322.52
60,700 at 4.92%$322.89
60,700 at 4.93%$323.26
60,700 at 4.94%$323.63
60,700 at 4.95%$324.00
60,700 at 4.96%$324.37
60,700 at 4.97%$324.74
60,700 at 4.98%$325.11
60,700 at 4.99%$325.48
60,700 at 5%$325.85
Interest Rate 30 Year
60,700 at 5.01%$326.22
60,700 at 5.02%$326.59
60,700 at 5.03%$326.96
60,700 at 5.04%$327.34
60,700 at 5.05%$327.71
60,700 at 5.06%$328.08
60,700 at 5.07%$328.45
60,700 at 5.08%$328.82
60,700 at 5.09%$329.20
60,700 at 5.1%$329.57
60,700 at 5.11%$329.94
60,700 at 5.12%$330.32
60,700 at 5.13%$330.69
60,700 at 5.14%$331.06
60,700 at 5.15%$331.44
60,700 at 5.16%$331.81
60,700 at 5.17%$332.19
60,700 at 5.18%$332.56
60,700 at 5.19%$332.94
60,700 at 5.2%$333.31
60,700 at 5.21%$333.69
60,700 at 5.22%$334.06
60,700 at 5.23%$334.44
60,700 at 5.24%$334.81
60,700 at 5.25%$335.19
60,700 at 5.26%$335.56
60,700 at 5.27%$335.94
60,700 at 5.28%$336.32
60,700 at 5.29%$336.69
60,700 at 5.3%$337.07
60,700 at 5.31%$337.45
60,700 at 5.32%$337.82
60,700 at 5.33%$338.20
60,700 at 5.34%$338.58
60,700 at 5.35%$338.96
60,700 at 5.36%$339.34
60,700 at 5.37%$339.71
60,700 at 5.38%$340.09
60,700 at 5.39%$340.47
60,700 at 5.4%$340.85
60,700 at 5.41%$341.23
60,700 at 5.42%$341.61
60,700 at 5.43%$341.99
60,700 at 5.44%$342.37
60,700 at 5.45%$342.75
60,700 at 5.46%$343.13
60,700 at 5.47%$343.51
60,700 at 5.48%$343.89
60,700 at 5.49%$344.27
60,700 at 5.5%$344.65
60,700 at 5.51%$345.03
60,700 at 5.52%$345.41
60,700 at 5.53%$345.79
60,700 at 5.54%$346.17
60,700 at 5.55%$346.55
60,700 at 5.56%$346.94
60,700 at 5.57%$347.32
60,700 at 5.58%$347.70
60,700 at 5.59%$348.08
60,700 at 5.6%$348.47
60,700 at 5.61%$348.85
60,700 at 5.62%$349.23
60,700 at 5.63%$349.62
60,700 at 5.64%$350.00
60,700 at 5.65%$350.38
60,700 at 5.66%$350.77
60,700 at 5.67%$351.15
60,700 at 5.68%$351.53
60,700 at 5.69%$351.92
60,700 at 5.7%$352.30
60,700 at 5.71%$352.69
60,700 at 5.72%$353.07
60,700 at 5.73%$353.46
60,700 at 5.74%$353.84
60,700 at 5.75%$354.23
60,700 at 5.76%$354.61
60,700 at 5.77%$355.00
60,700 at 5.78%$355.39
60,700 at 5.79%$355.77
60,700 at 5.8%$356.16
60,700 at 5.81%$356.55
60,700 at 5.82%$356.93
60,700 at 5.83%$357.32
60,700 at 5.84%$357.71
60,700 at 5.85%$358.09
60,700 at 5.86%$358.48
60,700 at 5.87%$358.87
60,700 at 5.88%$359.26
60,700 at 5.89%$359.65
60,700 at 5.9%$360.03
60,700 at 5.91%$360.42
60,700 at 5.92%$360.81
60,700 at 5.93%$361.20
60,700 at 5.94%$361.59
60,700 at 5.95%$361.98
60,700 at 5.96%$362.37
60,700 at 5.97%$362.76
60,700 at 5.98%$363.15
60,700 at 5.99%$363.54
60,700 at 6%$363.93
60,700 at 6.01%$364.32
60,700 at 6.02%$364.71
60,700 at 6.03%$365.10
60,700 at 6.04%$365.49
60,700 at 6.05%$365.88
60,700 at 6.06%$366.27
60,700 at 6.07%$366.66
60,700 at 6.08%$367.06
60,700 at 6.09%$367.45
60,700 at 6.1%$367.84
60,700 at 6.11%$368.23
60,700 at 6.12%$368.62
60,700 at 6.13%$369.02
60,700 at 6.14%$369.41
60,700 at 6.15%$369.80
60,700 at 6.16%$370.19
60,700 at 6.17%$370.59
60,700 at 6.18%$370.98
60,700 at 6.19%$371.37
60,700 at 6.2%$371.77
60,700 at 6.21%$372.16
60,700 at 6.22%$372.56
60,700 at 6.23%$372.95
60,700 at 6.24%$373.35
60,700 at 6.25%$373.74
60,700 at 6.26%$374.14
60,700 at 6.27%$374.53
60,700 at 6.28%$374.93
60,700 at 6.29%$375.32
60,700 at 6.3%$375.72
60,700 at 6.31%$376.11
60,700 at 6.32%$376.51
60,700 at 6.33%$376.90
60,700 at 6.34%$377.30
60,700 at 6.35%$377.70
60,700 at 6.36%$378.09
60,700 at 6.37%$378.49
60,700 at 6.38%$378.89
60,700 at 6.39%$379.28
60,700 at 6.4%$379.68
60,700 at 6.41%$380.08
60,700 at 6.42%$380.48
60,700 at 6.43%$380.88
60,700 at 6.44%$381.27
60,700 at 6.45%$381.67
60,700 at 6.46%$382.07
60,700 at 6.47%$382.47
60,700 at 6.48%$382.87
60,700 at 6.49%$383.27
60,700 at 6.5%$383.67
Interest Rate 30 Year
60,700 at 6.51%$384.06
60,700 at 6.52%$384.46
60,700 at 6.53%$384.86
60,700 at 6.54%$385.26
60,700 at 6.55%$385.66
60,700 at 6.56%$386.06
60,700 at 6.57%$386.46
60,700 at 6.58%$386.86
60,700 at 6.59%$387.27
60,700 at 6.6%$387.67
60,700 at 6.61%$388.07
60,700 at 6.62%$388.47
60,700 at 6.63%$388.87
60,700 at 6.64%$389.27
60,700 at 6.65%$389.67
60,700 at 6.66%$390.07
60,700 at 6.67%$390.48
60,700 at 6.68%$390.88
60,700 at 6.69%$391.28
60,700 at 6.7%$391.68
60,700 at 6.71%$392.09
60,700 at 6.72%$392.49
60,700 at 6.73%$392.89
60,700 at 6.74%$393.30
60,700 at 6.75%$393.70
60,700 at 6.76%$394.10
60,700 at 6.77%$394.51
60,700 at 6.78%$394.91
60,700 at 6.79%$395.31
60,700 at 6.8%$395.72
60,700 at 6.81%$396.12
60,700 at 6.82%$396.53
60,700 at 6.83%$396.93
60,700 at 6.84%$397.34
60,700 at 6.85%$397.74
60,700 at 6.86%$398.15
60,700 at 6.87%$398.55
60,700 at 6.88%$398.96
60,700 at 6.89%$399.36
60,700 at 6.9%$399.77
60,700 at 6.91%$400.18
60,700 at 6.92%$400.58
60,700 at 6.93%$400.99
60,700 at 6.94%$401.40
60,700 at 6.95%$401.80
60,700 at 6.96%$402.21
60,700 at 6.97%$402.62
60,700 at 6.98%$403.02
60,700 at 6.99%$403.43
60,700 at 7%$403.84
60,700 at 7.01%$404.25
60,700 at 7.02%$404.65
60,700 at 7.03%$405.06
60,700 at 7.04%$405.47
60,700 at 7.05%$405.88
60,700 at 7.06%$406.29
60,700 at 7.07%$406.70
60,700 at 7.08%$407.11
60,700 at 7.09%$407.51
60,700 at 7.1%$407.92
60,700 at 7.11%$408.33
60,700 at 7.12%$408.74
60,700 at 7.13%$409.15
60,700 at 7.14%$409.56
60,700 at 7.15%$409.97
60,700 at 7.16%$410.38
60,700 at 7.17%$410.79
60,700 at 7.18%$411.20
60,700 at 7.19%$411.61
60,700 at 7.2%$412.02
60,700 at 7.21%$412.44
60,700 at 7.22%$412.85
60,700 at 7.23%$413.26
60,700 at 7.24%$413.67
60,700 at 7.25%$414.08
60,700 at 7.26%$414.49
60,700 at 7.27%$414.90
60,700 at 7.28%$415.32
60,700 at 7.29%$415.73
60,700 at 7.3%$416.14
60,700 at 7.31%$416.55
60,700 at 7.32%$416.97
60,700 at 7.33%$417.38
60,700 at 7.34%$417.79
60,700 at 7.35%$418.21
60,700 at 7.36%$418.62
60,700 at 7.37%$419.03
60,700 at 7.38%$419.45
60,700 at 7.39%$419.86
60,700 at 7.4%$420.27
60,700 at 7.41%$420.69
60,700 at 7.42%$421.10
60,700 at 7.43%$421.52
60,700 at 7.44%$421.93
60,700 at 7.45%$422.35
60,700 at 7.46%$422.76
60,700 at 7.47%$423.18
60,700 at 7.48%$423.59
60,700 at 7.49%$424.01
60,700 at 7.5%$424.42
60,700 at 7.51%$424.84
60,700 at 7.52%$425.25
60,700 at 7.53%$425.67
60,700 at 7.54%$426.09
60,700 at 7.55%$426.50
60,700 at 7.56%$426.92
60,700 at 7.57%$427.34
60,700 at 7.58%$427.75
60,700 at 7.59%$428.17
60,700 at 7.6%$428.59
60,700 at 7.61%$429.00
60,700 at 7.62%$429.42
60,700 at 7.63%$429.84
60,700 at 7.64%$430.26
60,700 at 7.65%$430.68
60,700 at 7.66%$431.09
60,700 at 7.67%$431.51
60,700 at 7.68%$431.93
60,700 at 7.69%$432.35
60,700 at 7.7%$432.77
60,700 at 7.71%$433.19
60,700 at 7.72%$433.60
60,700 at 7.73%$434.02
60,700 at 7.74%$434.44
60,700 at 7.75%$434.86
60,700 at 7.76%$435.28
60,700 at 7.77%$435.70
60,700 at 7.78%$436.12
60,700 at 7.79%$436.54
60,700 at 7.8%$436.96
60,700 at 7.81%$437.38
60,700 at 7.82%$437.80
60,700 at 7.83%$438.22
60,700 at 7.84%$438.64
60,700 at 7.85%$439.06
60,700 at 7.86%$439.49
60,700 at 7.87%$439.91
60,700 at 7.88%$440.33
60,700 at 7.89%$440.75
60,700 at 7.9%$441.17
60,700 at 7.91%$441.59
60,700 at 7.92%$442.01
60,700 at 7.93%$442.44
60,700 at 7.94%$442.86
60,700 at 7.95%$443.28
60,700 at 7.96%$443.70
60,700 at 7.97%$444.13
60,700 at 7.98%$444.55
60,700 at 7.99%$444.97
60,700 at 8%$445.40
More Amounts
What is the down payment for a $60,700 house? How much do you need to put down?
Percent Down Down Payment
1%607
2%1,214
3%1,821
4%2,428
5%3,035
6%3,642
7%4,249
8%4,856
9%5,463
10%6,070
11%6,677
12%7,284
13%7,891
14%8,498
15%9,105
16%9,712
17%10,319
18%10,926
19%11,533
20%12,140
Percent Down Down Payment
21%12,747
22%13,354
23%13,961
24%14,568
25%15,175
26%15,782
27%16,389
28%16,996
29%17,603
30%18,210
31%18,817
32%19,424
33%20,031
34%20,638
35%21,245
36%21,852
37%22,459
38%23,066
39%23,673
40%24,280
Percent Down Down Payment
41%24,887
42%25,494
43%26,101
44%26,708
45%27,315
46%27,922
47%28,529
48%29,136
49%29,743
50%30,350
51%30,957
52%31,564
53%32,171
54%32,778
55%33,385
56%33,992
57%34,599
58%35,206
59%35,813
60%36,420
Percent Down Down Payment
61%37,027
62%37,634
63%38,241
64%38,848
65%39,455
66%40,062
67%40,669
68%41,276
69%41,883
70%42,490
71%43,097
72%43,704
73%44,311
74%44,918
75%45,525
76%46,132
77%46,739
78%47,346
79%47,953
80%48,560
Percent Down Down Payment
81%49,167
82%49,774
83%50,381
84%50,988
85%51,595
86%52,202
87%52,809
88%53,416
89%54,023
90%54,630
91%55,237
92%55,844
93%56,451
94%57,058
95%57,665
96%58,272
97%58,879
98%59,486
99%60,093
100%60,700
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.