$61,600 Mortgage for 30 Years

What is the monthly payment of a 61,600 dollar loan?
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Loan Tables for a $61,600 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 $61,600 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
61,600 at 2.01%$227.99
61,600 at 2.02%$228.30
61,600 at 2.03%$228.61
61,600 at 2.04%$228.92
61,600 at 2.05%$229.23
61,600 at 2.06%$229.54
61,600 at 2.07%$229.85
61,600 at 2.08%$230.16
61,600 at 2.09%$230.47
61,600 at 2.1%$230.78
61,600 at 2.11%$231.09
61,600 at 2.12%$231.40
61,600 at 2.13%$231.71
61,600 at 2.14%$232.02
61,600 at 2.15%$232.33
61,600 at 2.16%$232.65
61,600 at 2.17%$232.96
61,600 at 2.18%$233.27
61,600 at 2.19%$233.58
61,600 at 2.2%$233.90
61,600 at 2.21%$234.21
61,600 at 2.22%$234.52
61,600 at 2.23%$234.84
61,600 at 2.24%$235.15
61,600 at 2.25%$235.46
61,600 at 2.26%$235.78
61,600 at 2.27%$236.09
61,600 at 2.28%$236.41
61,600 at 2.29%$236.72
61,600 at 2.3%$237.04
61,600 at 2.31%$237.35
61,600 at 2.32%$237.67
61,600 at 2.33%$237.98
61,600 at 2.34%$238.30
61,600 at 2.35%$238.62
61,600 at 2.36%$238.93
61,600 at 2.37%$239.25
61,600 at 2.38%$239.57
61,600 at 2.39%$239.89
61,600 at 2.4%$240.20
61,600 at 2.41%$240.52
61,600 at 2.42%$240.84
61,600 at 2.43%$241.16
61,600 at 2.44%$241.48
61,600 at 2.45%$241.80
61,600 at 2.46%$242.12
61,600 at 2.47%$242.43
61,600 at 2.48%$242.75
61,600 at 2.49%$243.07
61,600 at 2.5%$243.39
61,600 at 2.51%$243.71
61,600 at 2.52%$244.04
61,600 at 2.53%$244.36
61,600 at 2.54%$244.68
61,600 at 2.55%$245.00
61,600 at 2.56%$245.32
61,600 at 2.57%$245.64
61,600 at 2.58%$245.96
61,600 at 2.59%$246.29
61,600 at 2.6%$246.61
61,600 at 2.61%$246.93
61,600 at 2.62%$247.26
61,600 at 2.63%$247.58
61,600 at 2.64%$247.90
61,600 at 2.65%$248.23
61,600 at 2.66%$248.55
61,600 at 2.67%$248.87
61,600 at 2.68%$249.20
61,600 at 2.69%$249.52
61,600 at 2.7%$249.85
61,600 at 2.71%$250.17
61,600 at 2.72%$250.50
61,600 at 2.73%$250.82
61,600 at 2.74%$251.15
61,600 at 2.75%$251.48
61,600 at 2.76%$251.80
61,600 at 2.77%$252.13
61,600 at 2.78%$252.46
61,600 at 2.79%$252.78
61,600 at 2.8%$253.11
61,600 at 2.81%$253.44
61,600 at 2.82%$253.77
61,600 at 2.83%$254.09
61,600 at 2.84%$254.42
61,600 at 2.85%$254.75
61,600 at 2.86%$255.08
61,600 at 2.87%$255.41
61,600 at 2.88%$255.74
61,600 at 2.89%$256.07
61,600 at 2.9%$256.40
61,600 at 2.91%$256.73
61,600 at 2.92%$257.06
61,600 at 2.93%$257.39
61,600 at 2.94%$257.72
61,600 at 2.95%$258.05
61,600 at 2.96%$258.38
61,600 at 2.97%$258.71
61,600 at 2.98%$259.04
61,600 at 2.99%$259.38
61,600 at 3%$259.71
61,600 at 3.01%$260.04
61,600 at 3.02%$260.37
61,600 at 3.03%$260.71
61,600 at 3.04%$261.04
61,600 at 3.05%$261.37
61,600 at 3.06%$261.71
61,600 at 3.07%$262.04
61,600 at 3.08%$262.37
61,600 at 3.09%$262.71
61,600 at 3.1%$263.04
61,600 at 3.11%$263.38
61,600 at 3.12%$263.71
61,600 at 3.13%$264.05
61,600 at 3.14%$264.38
61,600 at 3.15%$264.72
61,600 at 3.16%$265.05
61,600 at 3.17%$265.39
61,600 at 3.18%$265.73
61,600 at 3.19%$266.06
61,600 at 3.2%$266.40
61,600 at 3.21%$266.74
61,600 at 3.22%$267.07
61,600 at 3.23%$267.41
61,600 at 3.24%$267.75
61,600 at 3.25%$268.09
61,600 at 3.26%$268.43
61,600 at 3.27%$268.76
61,600 at 3.28%$269.10
61,600 at 3.29%$269.44
61,600 at 3.3%$269.78
61,600 at 3.31%$270.12
61,600 at 3.32%$270.46
61,600 at 3.33%$270.80
61,600 at 3.34%$271.14
61,600 at 3.35%$271.48
61,600 at 3.36%$271.82
61,600 at 3.37%$272.16
61,600 at 3.38%$272.50
61,600 at 3.39%$272.84
61,600 at 3.4%$273.18
61,600 at 3.41%$273.53
61,600 at 3.42%$273.87
61,600 at 3.43%$274.21
61,600 at 3.44%$274.55
61,600 at 3.45%$274.90
61,600 at 3.46%$275.24
61,600 at 3.47%$275.58
61,600 at 3.48%$275.92
61,600 at 3.49%$276.27
61,600 at 3.5%$276.61
Interest Rate 30 Year
61,600 at 3.51%$276.96
61,600 at 3.52%$277.30
61,600 at 3.53%$277.64
61,600 at 3.54%$277.99
61,600 at 3.55%$278.33
61,600 at 3.56%$278.68
61,600 at 3.57%$279.02
61,600 at 3.58%$279.37
61,600 at 3.59%$279.72
61,600 at 3.6%$280.06
61,600 at 3.61%$280.41
61,600 at 3.62%$280.75
61,600 at 3.63%$281.10
61,600 at 3.64%$281.45
61,600 at 3.65%$281.80
61,600 at 3.66%$282.14
61,600 at 3.67%$282.49
61,600 at 3.68%$282.84
61,600 at 3.69%$283.19
61,600 at 3.7%$283.53
61,600 at 3.71%$283.88
61,600 at 3.72%$284.23
61,600 at 3.73%$284.58
61,600 at 3.74%$284.93
61,600 at 3.75%$285.28
61,600 at 3.76%$285.63
61,600 at 3.77%$285.98
61,600 at 3.78%$286.33
61,600 at 3.79%$286.68
61,600 at 3.8%$287.03
61,600 at 3.81%$287.38
61,600 at 3.82%$287.73
61,600 at 3.83%$288.08
61,600 at 3.84%$288.43
61,600 at 3.85%$288.79
61,600 at 3.86%$289.14
61,600 at 3.87%$289.49
61,600 at 3.88%$289.84
61,600 at 3.89%$290.19
61,600 at 3.9%$290.55
61,600 at 3.91%$290.90
61,600 at 3.92%$291.25
61,600 at 3.93%$291.61
61,600 at 3.94%$291.96
61,600 at 3.95%$292.31
61,600 at 3.96%$292.67
61,600 at 3.97%$293.02
61,600 at 3.98%$293.38
61,600 at 3.99%$293.73
61,600 at 4%$294.09
61,600 at 4.01%$294.44
61,600 at 4.02%$294.80
61,600 at 4.03%$295.15
61,600 at 4.04%$295.51
61,600 at 4.05%$295.87
61,600 at 4.06%$296.22
61,600 at 4.07%$296.58
61,600 at 4.08%$296.94
61,600 at 4.09%$297.29
61,600 at 4.1%$297.65
61,600 at 4.11%$298.01
61,600 at 4.12%$298.37
61,600 at 4.13%$298.72
61,600 at 4.14%$299.08
61,600 at 4.15%$299.44
61,600 at 4.16%$299.80
61,600 at 4.17%$300.16
61,600 at 4.18%$300.52
61,600 at 4.19%$300.88
61,600 at 4.2%$301.23
61,600 at 4.21%$301.59
61,600 at 4.22%$301.95
61,600 at 4.23%$302.31
61,600 at 4.24%$302.67
61,600 at 4.25%$303.03
61,600 at 4.26%$303.40
61,600 at 4.27%$303.76
61,600 at 4.28%$304.12
61,600 at 4.29%$304.48
61,600 at 4.3%$304.84
61,600 at 4.31%$305.20
61,600 at 4.32%$305.56
61,600 at 4.33%$305.93
61,600 at 4.34%$306.29
61,600 at 4.35%$306.65
61,600 at 4.36%$307.01
61,600 at 4.37%$307.38
61,600 at 4.38%$307.74
61,600 at 4.39%$308.10
61,600 at 4.4%$308.47
61,600 at 4.41%$308.83
61,600 at 4.42%$309.20
61,600 at 4.43%$309.56
61,600 at 4.44%$309.93
61,600 at 4.45%$310.29
61,600 at 4.46%$310.66
61,600 at 4.47%$311.02
61,600 at 4.48%$311.39
61,600 at 4.49%$311.75
61,600 at 4.5%$312.12
61,600 at 4.51%$312.48
61,600 at 4.52%$312.85
61,600 at 4.53%$313.22
61,600 at 4.54%$313.58
61,600 at 4.55%$313.95
61,600 at 4.56%$314.32
61,600 at 4.57%$314.69
61,600 at 4.58%$315.05
61,600 at 4.59%$315.42
61,600 at 4.6%$315.79
61,600 at 4.61%$316.16
61,600 at 4.62%$316.53
61,600 at 4.63%$316.89
61,600 at 4.64%$317.26
61,600 at 4.65%$317.63
61,600 at 4.66%$318.00
61,600 at 4.67%$318.37
61,600 at 4.68%$318.74
61,600 at 4.69%$319.11
61,600 at 4.7%$319.48
61,600 at 4.71%$319.85
61,600 at 4.72%$320.22
61,600 at 4.73%$320.59
61,600 at 4.74%$320.96
61,600 at 4.75%$321.33
61,600 at 4.76%$321.71
61,600 at 4.77%$322.08
61,600 at 4.78%$322.45
61,600 at 4.79%$322.82
61,600 at 4.8%$323.19
61,600 at 4.81%$323.57
61,600 at 4.82%$323.94
61,600 at 4.83%$324.31
61,600 at 4.84%$324.68
61,600 at 4.85%$325.06
61,600 at 4.86%$325.43
61,600 at 4.87%$325.81
61,600 at 4.88%$326.18
61,600 at 4.89%$326.55
61,600 at 4.9%$326.93
61,600 at 4.91%$327.30
61,600 at 4.92%$327.68
61,600 at 4.93%$328.05
61,600 at 4.94%$328.43
61,600 at 4.95%$328.80
61,600 at 4.96%$329.18
61,600 at 4.97%$329.55
61,600 at 4.98%$329.93
61,600 at 4.99%$330.31
61,600 at 5%$330.68
Interest Rate 30 Year
61,600 at 5.01%$331.06
61,600 at 5.02%$331.44
61,600 at 5.03%$331.81
61,600 at 5.04%$332.19
61,600 at 5.05%$332.57
61,600 at 5.06%$332.94
61,600 at 5.07%$333.32
61,600 at 5.08%$333.70
61,600 at 5.09%$334.08
61,600 at 5.1%$334.46
61,600 at 5.11%$334.84
61,600 at 5.12%$335.21
61,600 at 5.13%$335.59
61,600 at 5.14%$335.97
61,600 at 5.15%$336.35
61,600 at 5.16%$336.73
61,600 at 5.17%$337.11
61,600 at 5.18%$337.49
61,600 at 5.19%$337.87
61,600 at 5.2%$338.25
61,600 at 5.21%$338.63
61,600 at 5.22%$339.01
61,600 at 5.23%$339.39
61,600 at 5.24%$339.78
61,600 at 5.25%$340.16
61,600 at 5.26%$340.54
61,600 at 5.27%$340.92
61,600 at 5.28%$341.30
61,600 at 5.29%$341.69
61,600 at 5.3%$342.07
61,600 at 5.31%$342.45
61,600 at 5.32%$342.83
61,600 at 5.33%$343.22
61,600 at 5.34%$343.60
61,600 at 5.35%$343.98
61,600 at 5.36%$344.37
61,600 at 5.37%$344.75
61,600 at 5.38%$345.13
61,600 at 5.39%$345.52
61,600 at 5.4%$345.90
61,600 at 5.41%$346.29
61,600 at 5.42%$346.67
61,600 at 5.43%$347.06
61,600 at 5.44%$347.44
61,600 at 5.45%$347.83
61,600 at 5.46%$348.21
61,600 at 5.47%$348.60
61,600 at 5.48%$348.99
61,600 at 5.49%$349.37
61,600 at 5.5%$349.76
61,600 at 5.51%$350.14
61,600 at 5.52%$350.53
61,600 at 5.53%$350.92
61,600 at 5.54%$351.31
61,600 at 5.55%$351.69
61,600 at 5.56%$352.08
61,600 at 5.57%$352.47
61,600 at 5.58%$352.86
61,600 at 5.59%$353.24
61,600 at 5.6%$353.63
61,600 at 5.61%$354.02
61,600 at 5.62%$354.41
61,600 at 5.63%$354.80
61,600 at 5.64%$355.19
61,600 at 5.65%$355.58
61,600 at 5.66%$355.97
61,600 at 5.67%$356.36
61,600 at 5.68%$356.75
61,600 at 5.69%$357.14
61,600 at 5.7%$357.53
61,600 at 5.71%$357.92
61,600 at 5.72%$358.31
61,600 at 5.73%$358.70
61,600 at 5.74%$359.09
61,600 at 5.75%$359.48
61,600 at 5.76%$359.87
61,600 at 5.77%$360.26
61,600 at 5.78%$360.66
61,600 at 5.79%$361.05
61,600 at 5.8%$361.44
61,600 at 5.81%$361.83
61,600 at 5.82%$362.22
61,600 at 5.83%$362.62
61,600 at 5.84%$363.01
61,600 at 5.85%$363.40
61,600 at 5.86%$363.80
61,600 at 5.87%$364.19
61,600 at 5.88%$364.58
61,600 at 5.89%$364.98
61,600 at 5.9%$365.37
61,600 at 5.91%$365.77
61,600 at 5.92%$366.16
61,600 at 5.93%$366.56
61,600 at 5.94%$366.95
61,600 at 5.95%$367.35
61,600 at 5.96%$367.74
61,600 at 5.97%$368.14
61,600 at 5.98%$368.53
61,600 at 5.99%$368.93
61,600 at 6%$369.32
61,600 at 6.01%$369.72
61,600 at 6.02%$370.12
61,600 at 6.03%$370.51
61,600 at 6.04%$370.91
61,600 at 6.05%$371.31
61,600 at 6.06%$371.70
61,600 at 6.07%$372.10
61,600 at 6.08%$372.50
61,600 at 6.09%$372.89
61,600 at 6.1%$373.29
61,600 at 6.11%$373.69
61,600 at 6.12%$374.09
61,600 at 6.13%$374.49
61,600 at 6.14%$374.89
61,600 at 6.15%$375.28
61,600 at 6.16%$375.68
61,600 at 6.17%$376.08
61,600 at 6.18%$376.48
61,600 at 6.19%$376.88
61,600 at 6.2%$377.28
61,600 at 6.21%$377.68
61,600 at 6.22%$378.08
61,600 at 6.23%$378.48
61,600 at 6.24%$378.88
61,600 at 6.25%$379.28
61,600 at 6.26%$379.68
61,600 at 6.27%$380.08
61,600 at 6.28%$380.48
61,600 at 6.29%$380.89
61,600 at 6.3%$381.29
61,600 at 6.31%$381.69
61,600 at 6.32%$382.09
61,600 at 6.33%$382.49
61,600 at 6.34%$382.89
61,600 at 6.35%$383.30
61,600 at 6.36%$383.70
61,600 at 6.37%$384.10
61,600 at 6.38%$384.51
61,600 at 6.39%$384.91
61,600 at 6.4%$385.31
61,600 at 6.41%$385.72
61,600 at 6.42%$386.12
61,600 at 6.43%$386.52
61,600 at 6.44%$386.93
61,600 at 6.45%$387.33
61,600 at 6.46%$387.73
61,600 at 6.47%$388.14
61,600 at 6.48%$388.54
61,600 at 6.49%$388.95
61,600 at 6.5%$389.35
Interest Rate 30 Year
61,600 at 6.51%$389.76
61,600 at 6.52%$390.16
61,600 at 6.53%$390.57
61,600 at 6.54%$390.98
61,600 at 6.55%$391.38
61,600 at 6.56%$391.79
61,600 at 6.57%$392.19
61,600 at 6.58%$392.60
61,600 at 6.59%$393.01
61,600 at 6.6%$393.41
61,600 at 6.61%$393.82
61,600 at 6.62%$394.23
61,600 at 6.63%$394.64
61,600 at 6.64%$395.04
61,600 at 6.65%$395.45
61,600 at 6.66%$395.86
61,600 at 6.67%$396.27
61,600 at 6.68%$396.67
61,600 at 6.69%$397.08
61,600 at 6.7%$397.49
61,600 at 6.71%$397.90
61,600 at 6.72%$398.31
61,600 at 6.73%$398.72
61,600 at 6.74%$399.13
61,600 at 6.75%$399.54
61,600 at 6.76%$399.95
61,600 at 6.77%$400.36
61,600 at 6.78%$400.77
61,600 at 6.79%$401.18
61,600 at 6.8%$401.59
61,600 at 6.81%$402.00
61,600 at 6.82%$402.41
61,600 at 6.83%$402.82
61,600 at 6.84%$403.23
61,600 at 6.85%$403.64
61,600 at 6.86%$404.05
61,600 at 6.87%$404.46
61,600 at 6.88%$404.87
61,600 at 6.89%$405.29
61,600 at 6.9%$405.70
61,600 at 6.91%$406.11
61,600 at 6.92%$406.52
61,600 at 6.93%$406.93
61,600 at 6.94%$407.35
61,600 at 6.95%$407.76
61,600 at 6.96%$408.17
61,600 at 6.97%$408.59
61,600 at 6.98%$409.00
61,600 at 6.99%$409.41
61,600 at 7%$409.83
61,600 at 7.01%$410.24
61,600 at 7.02%$410.65
61,600 at 7.03%$411.07
61,600 at 7.04%$411.48
61,600 at 7.05%$411.90
61,600 at 7.06%$412.31
61,600 at 7.07%$412.73
61,600 at 7.08%$413.14
61,600 at 7.09%$413.56
61,600 at 7.1%$413.97
61,600 at 7.11%$414.39
61,600 at 7.12%$414.80
61,600 at 7.13%$415.22
61,600 at 7.14%$415.63
61,600 at 7.15%$416.05
61,600 at 7.16%$416.47
61,600 at 7.17%$416.88
61,600 at 7.18%$417.30
61,600 at 7.19%$417.72
61,600 at 7.2%$418.13
61,600 at 7.21%$418.55
61,600 at 7.22%$418.97
61,600 at 7.23%$419.39
61,600 at 7.24%$419.80
61,600 at 7.25%$420.22
61,600 at 7.26%$420.64
61,600 at 7.27%$421.06
61,600 at 7.28%$421.47
61,600 at 7.29%$421.89
61,600 at 7.3%$422.31
61,600 at 7.31%$422.73
61,600 at 7.32%$423.15
61,600 at 7.33%$423.57
61,600 at 7.34%$423.99
61,600 at 7.35%$424.41
61,600 at 7.36%$424.83
61,600 at 7.37%$425.25
61,600 at 7.38%$425.67
61,600 at 7.39%$426.09
61,600 at 7.4%$426.51
61,600 at 7.41%$426.93
61,600 at 7.42%$427.35
61,600 at 7.43%$427.77
61,600 at 7.44%$428.19
61,600 at 7.45%$428.61
61,600 at 7.46%$429.03
61,600 at 7.47%$429.45
61,600 at 7.48%$429.87
61,600 at 7.49%$430.29
61,600 at 7.5%$430.72
61,600 at 7.51%$431.14
61,600 at 7.52%$431.56
61,600 at 7.53%$431.98
61,600 at 7.54%$432.40
61,600 at 7.55%$432.83
61,600 at 7.56%$433.25
61,600 at 7.57%$433.67
61,600 at 7.58%$434.10
61,600 at 7.59%$434.52
61,600 at 7.6%$434.94
61,600 at 7.61%$435.37
61,600 at 7.62%$435.79
61,600 at 7.63%$436.21
61,600 at 7.64%$436.64
61,600 at 7.65%$437.06
61,600 at 7.66%$437.49
61,600 at 7.67%$437.91
61,600 at 7.68%$438.33
61,600 at 7.69%$438.76
61,600 at 7.7%$439.18
61,600 at 7.71%$439.61
61,600 at 7.72%$440.03
61,600 at 7.73%$440.46
61,600 at 7.74%$440.88
61,600 at 7.75%$441.31
61,600 at 7.76%$441.74
61,600 at 7.77%$442.16
61,600 at 7.78%$442.59
61,600 at 7.79%$443.01
61,600 at 7.8%$443.44
61,600 at 7.81%$443.87
61,600 at 7.82%$444.29
61,600 at 7.83%$444.72
61,600 at 7.84%$445.15
61,600 at 7.85%$445.57
61,600 at 7.86%$446.00
61,600 at 7.87%$446.43
61,600 at 7.88%$446.86
61,600 at 7.89%$447.28
61,600 at 7.9%$447.71
61,600 at 7.91%$448.14
61,600 at 7.92%$448.57
61,600 at 7.93%$449.00
61,600 at 7.94%$449.43
61,600 at 7.95%$449.85
61,600 at 7.96%$450.28
61,600 at 7.97%$450.71
61,600 at 7.98%$451.14
61,600 at 7.99%$451.57
61,600 at 8%$452.00
More Amounts
What is the down payment for a $61,600 house? How much do you need to put down?
Percent Down Down Payment
1%616
2%1,232
3%1,848
4%2,464
5%3,080
6%3,696
7%4,312
8%4,928
9%5,544
10%6,160
11%6,776
12%7,392
13%8,008
14%8,624
15%9,240
16%9,856
17%10,472
18%11,088
19%11,704
20%12,320
Percent Down Down Payment
21%12,936
22%13,552
23%14,168
24%14,784
25%15,400
26%16,016
27%16,632
28%17,248
29%17,864
30%18,480
31%19,096
32%19,712
33%20,328
34%20,944
35%21,560
36%22,176
37%22,792
38%23,408
39%24,024
40%24,640
Percent Down Down Payment
41%25,256
42%25,872
43%26,488
44%27,104
45%27,720
46%28,336
47%28,952
48%29,568
49%30,184
50%30,800
51%31,416
52%32,032
53%32,648
54%33,264
55%33,880
56%34,496
57%35,112
58%35,728
59%36,344
60%36,960
Percent Down Down Payment
61%37,576
62%38,192
63%38,808
64%39,424
65%40,040
66%40,656
67%41,272
68%41,888
69%42,504
70%43,120
71%43,736
72%44,352
73%44,968
74%45,584
75%46,200
76%46,816
77%47,432
78%48,048
79%48,664
80%49,280
Percent Down Down Payment
81%49,896
82%50,512
83%51,128
84%51,744
85%52,360
86%52,976
87%53,592
88%54,208
89%54,824
90%55,440
91%56,056
92%56,672
93%57,288
94%57,904
95%58,520
96%59,136
97%59,752
98%60,368
99%60,984
100%61,600
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.