$61,500 Mortgage for 30 Years

What is the monthly payment of a 61,500 dollar loan?
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Loan Tables for a $61,500 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 62k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $61,500 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
61,500 at 2.01%$227.62
61,500 at 2.02%$227.93
61,500 at 2.03%$228.24
61,500 at 2.04%$228.55
61,500 at 2.05%$228.86
61,500 at 2.06%$229.17
61,500 at 2.07%$229.47
61,500 at 2.08%$229.78
61,500 at 2.09%$230.09
61,500 at 2.1%$230.40
61,500 at 2.11%$230.71
61,500 at 2.12%$231.02
61,500 at 2.13%$231.33
61,500 at 2.14%$231.65
61,500 at 2.15%$231.96
61,500 at 2.16%$232.27
61,500 at 2.17%$232.58
61,500 at 2.18%$232.89
61,500 at 2.19%$233.20
61,500 at 2.2%$233.52
61,500 at 2.21%$233.83
61,500 at 2.22%$234.14
61,500 at 2.23%$234.45
61,500 at 2.24%$234.77
61,500 at 2.25%$235.08
61,500 at 2.26%$235.40
61,500 at 2.27%$235.71
61,500 at 2.28%$236.02
61,500 at 2.29%$236.34
61,500 at 2.3%$236.65
61,500 at 2.31%$236.97
61,500 at 2.32%$237.28
61,500 at 2.33%$237.60
61,500 at 2.34%$237.91
61,500 at 2.35%$238.23
61,500 at 2.36%$238.55
61,500 at 2.37%$238.86
61,500 at 2.38%$239.18
61,500 at 2.39%$239.50
61,500 at 2.4%$239.81
61,500 at 2.41%$240.13
61,500 at 2.42%$240.45
61,500 at 2.43%$240.77
61,500 at 2.44%$241.09
61,500 at 2.45%$241.40
61,500 at 2.46%$241.72
61,500 at 2.47%$242.04
61,500 at 2.48%$242.36
61,500 at 2.49%$242.68
61,500 at 2.5%$243.00
61,500 at 2.51%$243.32
61,500 at 2.52%$243.64
61,500 at 2.53%$243.96
61,500 at 2.54%$244.28
61,500 at 2.55%$244.60
61,500 at 2.56%$244.92
61,500 at 2.57%$245.24
61,500 at 2.58%$245.57
61,500 at 2.59%$245.89
61,500 at 2.6%$246.21
61,500 at 2.61%$246.53
61,500 at 2.62%$246.85
61,500 at 2.63%$247.18
61,500 at 2.64%$247.50
61,500 at 2.65%$247.82
61,500 at 2.66%$248.15
61,500 at 2.67%$248.47
61,500 at 2.68%$248.79
61,500 at 2.69%$249.12
61,500 at 2.7%$249.44
61,500 at 2.71%$249.77
61,500 at 2.72%$250.09
61,500 at 2.73%$250.42
61,500 at 2.74%$250.74
61,500 at 2.75%$251.07
61,500 at 2.76%$251.39
61,500 at 2.77%$251.72
61,500 at 2.78%$252.05
61,500 at 2.79%$252.37
61,500 at 2.8%$252.70
61,500 at 2.81%$253.03
61,500 at 2.82%$253.35
61,500 at 2.83%$253.68
61,500 at 2.84%$254.01
61,500 at 2.85%$254.34
61,500 at 2.86%$254.67
61,500 at 2.87%$254.99
61,500 at 2.88%$255.32
61,500 at 2.89%$255.65
61,500 at 2.9%$255.98
61,500 at 2.91%$256.31
61,500 at 2.92%$256.64
61,500 at 2.93%$256.97
61,500 at 2.94%$257.30
61,500 at 2.95%$257.63
61,500 at 2.96%$257.96
61,500 at 2.97%$258.29
61,500 at 2.98%$258.62
61,500 at 2.99%$258.95
61,500 at 3%$259.29
61,500 at 3.01%$259.62
61,500 at 3.02%$259.95
61,500 at 3.03%$260.28
61,500 at 3.04%$260.62
61,500 at 3.05%$260.95
61,500 at 3.06%$261.28
61,500 at 3.07%$261.61
61,500 at 3.08%$261.95
61,500 at 3.09%$262.28
61,500 at 3.1%$262.62
61,500 at 3.11%$262.95
61,500 at 3.12%$263.28
61,500 at 3.13%$263.62
61,500 at 3.14%$263.95
61,500 at 3.15%$264.29
61,500 at 3.16%$264.62
61,500 at 3.17%$264.96
61,500 at 3.18%$265.29
61,500 at 3.19%$265.63
61,500 at 3.2%$265.97
61,500 at 3.21%$266.30
61,500 at 3.22%$266.64
61,500 at 3.23%$266.98
61,500 at 3.24%$267.31
61,500 at 3.25%$267.65
61,500 at 3.26%$267.99
61,500 at 3.27%$268.33
61,500 at 3.28%$268.67
61,500 at 3.29%$269.00
61,500 at 3.3%$269.34
61,500 at 3.31%$269.68
61,500 at 3.32%$270.02
61,500 at 3.33%$270.36
61,500 at 3.34%$270.70
61,500 at 3.35%$271.04
61,500 at 3.36%$271.38
61,500 at 3.37%$271.72
61,500 at 3.38%$272.06
61,500 at 3.39%$272.40
61,500 at 3.4%$272.74
61,500 at 3.41%$273.08
61,500 at 3.42%$273.42
61,500 at 3.43%$273.77
61,500 at 3.44%$274.11
61,500 at 3.45%$274.45
61,500 at 3.46%$274.79
61,500 at 3.47%$275.13
61,500 at 3.48%$275.48
61,500 at 3.49%$275.82
61,500 at 3.5%$276.16
Interest Rate 30 Year
61,500 at 3.51%$276.51
61,500 at 3.52%$276.85
61,500 at 3.53%$277.19
61,500 at 3.54%$277.54
61,500 at 3.55%$277.88
61,500 at 3.56%$278.23
61,500 at 3.57%$278.57
61,500 at 3.58%$278.92
61,500 at 3.59%$279.26
61,500 at 3.6%$279.61
61,500 at 3.61%$279.95
61,500 at 3.62%$280.30
61,500 at 3.63%$280.64
61,500 at 3.64%$280.99
61,500 at 3.65%$281.34
61,500 at 3.66%$281.68
61,500 at 3.67%$282.03
61,500 at 3.68%$282.38
61,500 at 3.69%$282.73
61,500 at 3.7%$283.07
61,500 at 3.71%$283.42
61,500 at 3.72%$283.77
61,500 at 3.73%$284.12
61,500 at 3.74%$284.47
61,500 at 3.75%$284.82
61,500 at 3.76%$285.17
61,500 at 3.77%$285.51
61,500 at 3.78%$285.86
61,500 at 3.79%$286.21
61,500 at 3.8%$286.56
61,500 at 3.81%$286.91
61,500 at 3.82%$287.26
61,500 at 3.83%$287.62
61,500 at 3.84%$287.97
61,500 at 3.85%$288.32
61,500 at 3.86%$288.67
61,500 at 3.87%$289.02
61,500 at 3.88%$289.37
61,500 at 3.89%$289.72
61,500 at 3.9%$290.08
61,500 at 3.91%$290.43
61,500 at 3.92%$290.78
61,500 at 3.93%$291.13
61,500 at 3.94%$291.49
61,500 at 3.95%$291.84
61,500 at 3.96%$292.19
61,500 at 3.97%$292.55
61,500 at 3.98%$292.90
61,500 at 3.99%$293.26
61,500 at 4%$293.61
61,500 at 4.01%$293.97
61,500 at 4.02%$294.32
61,500 at 4.03%$294.68
61,500 at 4.04%$295.03
61,500 at 4.05%$295.39
61,500 at 4.06%$295.74
61,500 at 4.07%$296.10
61,500 at 4.08%$296.45
61,500 at 4.09%$296.81
61,500 at 4.1%$297.17
61,500 at 4.11%$297.52
61,500 at 4.12%$297.88
61,500 at 4.13%$298.24
61,500 at 4.14%$298.60
61,500 at 4.15%$298.95
61,500 at 4.16%$299.31
61,500 at 4.17%$299.67
61,500 at 4.18%$300.03
61,500 at 4.19%$300.39
61,500 at 4.2%$300.75
61,500 at 4.21%$301.10
61,500 at 4.22%$301.46
61,500 at 4.23%$301.82
61,500 at 4.24%$302.18
61,500 at 4.25%$302.54
61,500 at 4.26%$302.90
61,500 at 4.27%$303.26
61,500 at 4.28%$303.62
61,500 at 4.29%$303.98
61,500 at 4.3%$304.35
61,500 at 4.31%$304.71
61,500 at 4.32%$305.07
61,500 at 4.33%$305.43
61,500 at 4.34%$305.79
61,500 at 4.35%$306.15
61,500 at 4.36%$306.52
61,500 at 4.37%$306.88
61,500 at 4.38%$307.24
61,500 at 4.39%$307.60
61,500 at 4.4%$307.97
61,500 at 4.41%$308.33
61,500 at 4.42%$308.69
61,500 at 4.43%$309.06
61,500 at 4.44%$309.42
61,500 at 4.45%$309.79
61,500 at 4.46%$310.15
61,500 at 4.47%$310.52
61,500 at 4.48%$310.88
61,500 at 4.49%$311.25
61,500 at 4.5%$311.61
61,500 at 4.51%$311.98
61,500 at 4.52%$312.34
61,500 at 4.53%$312.71
61,500 at 4.54%$313.07
61,500 at 4.55%$313.44
61,500 at 4.56%$313.81
61,500 at 4.57%$314.17
61,500 at 4.58%$314.54
61,500 at 4.59%$314.91
61,500 at 4.6%$315.28
61,500 at 4.61%$315.64
61,500 at 4.62%$316.01
61,500 at 4.63%$316.38
61,500 at 4.64%$316.75
61,500 at 4.65%$317.12
61,500 at 4.66%$317.49
61,500 at 4.67%$317.85
61,500 at 4.68%$318.22
61,500 at 4.69%$318.59
61,500 at 4.7%$318.96
61,500 at 4.71%$319.33
61,500 at 4.72%$319.70
61,500 at 4.73%$320.07
61,500 at 4.74%$320.44
61,500 at 4.75%$320.81
61,500 at 4.76%$321.18
61,500 at 4.77%$321.55
61,500 at 4.78%$321.93
61,500 at 4.79%$322.30
61,500 at 4.8%$322.67
61,500 at 4.81%$323.04
61,500 at 4.82%$323.41
61,500 at 4.83%$323.79
61,500 at 4.84%$324.16
61,500 at 4.85%$324.53
61,500 at 4.86%$324.90
61,500 at 4.87%$325.28
61,500 at 4.88%$325.65
61,500 at 4.89%$326.02
61,500 at 4.9%$326.40
61,500 at 4.91%$326.77
61,500 at 4.92%$327.14
61,500 at 4.93%$327.52
61,500 at 4.94%$327.89
61,500 at 4.95%$328.27
61,500 at 4.96%$328.64
61,500 at 4.97%$329.02
61,500 at 4.98%$329.39
61,500 at 4.99%$329.77
61,500 at 5%$330.15
Interest Rate 30 Year
61,500 at 5.01%$330.52
61,500 at 5.02%$330.90
61,500 at 5.03%$331.27
61,500 at 5.04%$331.65
61,500 at 5.05%$332.03
61,500 at 5.06%$332.40
61,500 at 5.07%$332.78
61,500 at 5.08%$333.16
61,500 at 5.09%$333.54
61,500 at 5.1%$333.91
61,500 at 5.11%$334.29
61,500 at 5.12%$334.67
61,500 at 5.13%$335.05
61,500 at 5.14%$335.43
61,500 at 5.15%$335.81
61,500 at 5.16%$336.19
61,500 at 5.17%$336.56
61,500 at 5.18%$336.94
61,500 at 5.19%$337.32
61,500 at 5.2%$337.70
61,500 at 5.21%$338.08
61,500 at 5.22%$338.46
61,500 at 5.23%$338.84
61,500 at 5.24%$339.22
61,500 at 5.25%$339.61
61,500 at 5.26%$339.99
61,500 at 5.27%$340.37
61,500 at 5.28%$340.75
61,500 at 5.29%$341.13
61,500 at 5.3%$341.51
61,500 at 5.31%$341.89
61,500 at 5.32%$342.28
61,500 at 5.33%$342.66
61,500 at 5.34%$343.04
61,500 at 5.35%$343.42
61,500 at 5.36%$343.81
61,500 at 5.37%$344.19
61,500 at 5.38%$344.57
61,500 at 5.39%$344.96
61,500 at 5.4%$345.34
61,500 at 5.41%$345.73
61,500 at 5.42%$346.11
61,500 at 5.43%$346.49
61,500 at 5.44%$346.88
61,500 at 5.45%$347.26
61,500 at 5.46%$347.65
61,500 at 5.47%$348.03
61,500 at 5.48%$348.42
61,500 at 5.49%$348.80
61,500 at 5.5%$349.19
61,500 at 5.51%$349.58
61,500 at 5.52%$349.96
61,500 at 5.53%$350.35
61,500 at 5.54%$350.74
61,500 at 5.55%$351.12
61,500 at 5.56%$351.51
61,500 at 5.57%$351.90
61,500 at 5.58%$352.28
61,500 at 5.59%$352.67
61,500 at 5.6%$353.06
61,500 at 5.61%$353.45
61,500 at 5.62%$353.83
61,500 at 5.63%$354.22
61,500 at 5.64%$354.61
61,500 at 5.65%$355.00
61,500 at 5.66%$355.39
61,500 at 5.67%$355.78
61,500 at 5.68%$356.17
61,500 at 5.69%$356.56
61,500 at 5.7%$356.95
61,500 at 5.71%$357.34
61,500 at 5.72%$357.73
61,500 at 5.73%$358.12
61,500 at 5.74%$358.51
61,500 at 5.75%$358.90
61,500 at 5.76%$359.29
61,500 at 5.77%$359.68
61,500 at 5.78%$360.07
61,500 at 5.79%$360.46
61,500 at 5.8%$360.85
61,500 at 5.81%$361.24
61,500 at 5.82%$361.64
61,500 at 5.83%$362.03
61,500 at 5.84%$362.42
61,500 at 5.85%$362.81
61,500 at 5.86%$363.21
61,500 at 5.87%$363.60
61,500 at 5.88%$363.99
61,500 at 5.89%$364.39
61,500 at 5.9%$364.78
61,500 at 5.91%$365.17
61,500 at 5.92%$365.57
61,500 at 5.93%$365.96
61,500 at 5.94%$366.35
61,500 at 5.95%$366.75
61,500 at 5.96%$367.14
61,500 at 5.97%$367.54
61,500 at 5.98%$367.93
61,500 at 5.99%$368.33
61,500 at 6%$368.72
61,500 at 6.01%$369.12
61,500 at 6.02%$369.51
61,500 at 6.03%$369.91
61,500 at 6.04%$370.31
61,500 at 6.05%$370.70
61,500 at 6.06%$371.10
61,500 at 6.07%$371.50
61,500 at 6.08%$371.89
61,500 at 6.09%$372.29
61,500 at 6.1%$372.69
61,500 at 6.11%$373.08
61,500 at 6.12%$373.48
61,500 at 6.13%$373.88
61,500 at 6.14%$374.28
61,500 at 6.15%$374.68
61,500 at 6.16%$375.07
61,500 at 6.17%$375.47
61,500 at 6.18%$375.87
61,500 at 6.19%$376.27
61,500 at 6.2%$376.67
61,500 at 6.21%$377.07
61,500 at 6.22%$377.47
61,500 at 6.23%$377.87
61,500 at 6.24%$378.27
61,500 at 6.25%$378.67
61,500 at 6.26%$379.07
61,500 at 6.27%$379.47
61,500 at 6.28%$379.87
61,500 at 6.29%$380.27
61,500 at 6.3%$380.67
61,500 at 6.31%$381.07
61,500 at 6.32%$381.47
61,500 at 6.33%$381.87
61,500 at 6.34%$382.27
61,500 at 6.35%$382.67
61,500 at 6.36%$383.08
61,500 at 6.37%$383.48
61,500 at 6.38%$383.88
61,500 at 6.39%$384.28
61,500 at 6.4%$384.69
61,500 at 6.41%$385.09
61,500 at 6.42%$385.49
61,500 at 6.43%$385.89
61,500 at 6.44%$386.30
61,500 at 6.45%$386.70
61,500 at 6.46%$387.11
61,500 at 6.47%$387.51
61,500 at 6.48%$387.91
61,500 at 6.49%$388.32
61,500 at 6.5%$388.72
Interest Rate 30 Year
61,500 at 6.51%$389.13
61,500 at 6.52%$389.53
61,500 at 6.53%$389.94
61,500 at 6.54%$390.34
61,500 at 6.55%$390.75
61,500 at 6.56%$391.15
61,500 at 6.57%$391.56
61,500 at 6.58%$391.96
61,500 at 6.59%$392.37
61,500 at 6.6%$392.78
61,500 at 6.61%$393.18
61,500 at 6.62%$393.59
61,500 at 6.63%$393.99
61,500 at 6.64%$394.40
61,500 at 6.65%$394.81
61,500 at 6.66%$395.22
61,500 at 6.67%$395.62
61,500 at 6.68%$396.03
61,500 at 6.69%$396.44
61,500 at 6.7%$396.85
61,500 at 6.71%$397.25
61,500 at 6.72%$397.66
61,500 at 6.73%$398.07
61,500 at 6.74%$398.48
61,500 at 6.75%$398.89
61,500 at 6.76%$399.30
61,500 at 6.77%$399.71
61,500 at 6.78%$400.12
61,500 at 6.79%$400.52
61,500 at 6.8%$400.93
61,500 at 6.81%$401.34
61,500 at 6.82%$401.75
61,500 at 6.83%$402.16
61,500 at 6.84%$402.57
61,500 at 6.85%$402.98
61,500 at 6.86%$403.40
61,500 at 6.87%$403.81
61,500 at 6.88%$404.22
61,500 at 6.89%$404.63
61,500 at 6.9%$405.04
61,500 at 6.91%$405.45
61,500 at 6.92%$405.86
61,500 at 6.93%$406.27
61,500 at 6.94%$406.69
61,500 at 6.95%$407.10
61,500 at 6.96%$407.51
61,500 at 6.97%$407.92
61,500 at 6.98%$408.34
61,500 at 6.99%$408.75
61,500 at 7%$409.16
61,500 at 7.01%$409.57
61,500 at 7.02%$409.99
61,500 at 7.03%$410.40
61,500 at 7.04%$410.81
61,500 at 7.05%$411.23
61,500 at 7.06%$411.64
61,500 at 7.07%$412.06
61,500 at 7.08%$412.47
61,500 at 7.09%$412.89
61,500 at 7.1%$413.30
61,500 at 7.11%$413.71
61,500 at 7.12%$414.13
61,500 at 7.13%$414.54
61,500 at 7.14%$414.96
61,500 at 7.15%$415.38
61,500 at 7.16%$415.79
61,500 at 7.17%$416.21
61,500 at 7.18%$416.62
61,500 at 7.19%$417.04
61,500 at 7.2%$417.45
61,500 at 7.21%$417.87
61,500 at 7.22%$418.29
61,500 at 7.23%$418.70
61,500 at 7.24%$419.12
61,500 at 7.25%$419.54
61,500 at 7.26%$419.96
61,500 at 7.27%$420.37
61,500 at 7.28%$420.79
61,500 at 7.29%$421.21
61,500 at 7.3%$421.63
61,500 at 7.31%$422.04
61,500 at 7.32%$422.46
61,500 at 7.33%$422.88
61,500 at 7.34%$423.30
61,500 at 7.35%$423.72
61,500 at 7.36%$424.14
61,500 at 7.37%$424.56
61,500 at 7.38%$424.97
61,500 at 7.39%$425.39
61,500 at 7.4%$425.81
61,500 at 7.41%$426.23
61,500 at 7.42%$426.65
61,500 at 7.43%$427.07
61,500 at 7.44%$427.49
61,500 at 7.45%$427.91
61,500 at 7.46%$428.33
61,500 at 7.47%$428.75
61,500 at 7.48%$429.17
61,500 at 7.49%$429.60
61,500 at 7.5%$430.02
61,500 at 7.51%$430.44
61,500 at 7.52%$430.86
61,500 at 7.53%$431.28
61,500 at 7.54%$431.70
61,500 at 7.55%$432.12
61,500 at 7.56%$432.55
61,500 at 7.57%$432.97
61,500 at 7.58%$433.39
61,500 at 7.59%$433.81
61,500 at 7.6%$434.24
61,500 at 7.61%$434.66
61,500 at 7.62%$435.08
61,500 at 7.63%$435.50
61,500 at 7.64%$435.93
61,500 at 7.65%$436.35
61,500 at 7.66%$436.77
61,500 at 7.67%$437.20
61,500 at 7.68%$437.62
61,500 at 7.69%$438.05
61,500 at 7.7%$438.47
61,500 at 7.71%$438.89
61,500 at 7.72%$439.32
61,500 at 7.73%$439.74
61,500 at 7.74%$440.17
61,500 at 7.75%$440.59
61,500 at 7.76%$441.02
61,500 at 7.77%$441.44
61,500 at 7.78%$441.87
61,500 at 7.79%$442.29
61,500 at 7.8%$442.72
61,500 at 7.81%$443.15
61,500 at 7.82%$443.57
61,500 at 7.83%$444.00
61,500 at 7.84%$444.42
61,500 at 7.85%$444.85
61,500 at 7.86%$445.28
61,500 at 7.87%$445.70
61,500 at 7.88%$446.13
61,500 at 7.89%$446.56
61,500 at 7.9%$446.99
61,500 at 7.91%$447.41
61,500 at 7.92%$447.84
61,500 at 7.93%$448.27
61,500 at 7.94%$448.70
61,500 at 7.95%$449.12
61,500 at 7.96%$449.55
61,500 at 7.97%$449.98
61,500 at 7.98%$450.41
61,500 at 7.99%$450.84
61,500 at 8%$451.27
More Amounts
What is the down payment for a $61,500 house? How much do you need to put down?
Percent Down Down Payment
1%615
2%1,230
3%1,845
4%2,460
5%3,075
6%3,690
7%4,305
8%4,920
9%5,535
10%6,150
11%6,765
12%7,380
13%7,995
14%8,610
15%9,225
16%9,840
17%10,455
18%11,070
19%11,685
20%12,300
Percent Down Down Payment
21%12,915
22%13,530
23%14,145
24%14,760
25%15,375
26%15,990
27%16,605
28%17,220
29%17,835
30%18,450
31%19,065
32%19,680
33%20,295
34%20,910
35%21,525
36%22,140
37%22,755
38%23,370
39%23,985
40%24,600
Percent Down Down Payment
41%25,215
42%25,830
43%26,445
44%27,060
45%27,675
46%28,290
47%28,905
48%29,520
49%30,135
50%30,750
51%31,365
52%31,980
53%32,595
54%33,210
55%33,825
56%34,440
57%35,055
58%35,670
59%36,285
60%36,900
Percent Down Down Payment
61%37,515
62%38,130
63%38,745
64%39,360
65%39,975
66%40,590
67%41,205
68%41,820
69%42,435
70%43,050
71%43,665
72%44,280
73%44,895
74%45,510
75%46,125
76%46,740
77%47,355
78%47,970
79%48,585
80%49,200
Percent Down Down Payment
81%49,815
82%50,430
83%51,045
84%51,660
85%52,275
86%52,890
87%53,505
88%54,120
89%54,735
90%55,350
91%55,965
92%56,580
93%57,195
94%57,810
95%58,425
96%59,040
97%59,655
98%60,270
99%60,885
100%61,500
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.