$62,050 Mortgage for 30 Years

What is the monthly payment of a 62,050 dollar loan?
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Loan Tables for a $62,050 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 $62,050 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
62,050 at 2.01%$229.66
62,050 at 2.02%$229.97
62,050 at 2.03%$230.28
62,050 at 2.04%$230.59
62,050 at 2.05%$230.90
62,050 at 2.06%$231.22
62,050 at 2.07%$231.53
62,050 at 2.08%$231.84
62,050 at 2.09%$232.15
62,050 at 2.1%$232.46
62,050 at 2.11%$232.78
62,050 at 2.12%$233.09
62,050 at 2.13%$233.40
62,050 at 2.14%$233.72
62,050 at 2.15%$234.03
62,050 at 2.16%$234.35
62,050 at 2.17%$234.66
62,050 at 2.18%$234.97
62,050 at 2.19%$235.29
62,050 at 2.2%$235.60
62,050 at 2.21%$235.92
62,050 at 2.22%$236.24
62,050 at 2.23%$236.55
62,050 at 2.24%$236.87
62,050 at 2.25%$237.18
62,050 at 2.26%$237.50
62,050 at 2.27%$237.82
62,050 at 2.28%$238.13
62,050 at 2.29%$238.45
62,050 at 2.3%$238.77
62,050 at 2.31%$239.09
62,050 at 2.32%$239.41
62,050 at 2.33%$239.72
62,050 at 2.34%$240.04
62,050 at 2.35%$240.36
62,050 at 2.36%$240.68
62,050 at 2.37%$241.00
62,050 at 2.38%$241.32
62,050 at 2.39%$241.64
62,050 at 2.4%$241.96
62,050 at 2.41%$242.28
62,050 at 2.42%$242.60
62,050 at 2.43%$242.92
62,050 at 2.44%$243.24
62,050 at 2.45%$243.56
62,050 at 2.46%$243.88
62,050 at 2.47%$244.21
62,050 at 2.48%$244.53
62,050 at 2.49%$244.85
62,050 at 2.5%$245.17
62,050 at 2.51%$245.50
62,050 at 2.52%$245.82
62,050 at 2.53%$246.14
62,050 at 2.54%$246.46
62,050 at 2.55%$246.79
62,050 at 2.56%$247.11
62,050 at 2.57%$247.44
62,050 at 2.58%$247.76
62,050 at 2.59%$248.09
62,050 at 2.6%$248.41
62,050 at 2.61%$248.74
62,050 at 2.62%$249.06
62,050 at 2.63%$249.39
62,050 at 2.64%$249.71
62,050 at 2.65%$250.04
62,050 at 2.66%$250.37
62,050 at 2.67%$250.69
62,050 at 2.68%$251.02
62,050 at 2.69%$251.35
62,050 at 2.7%$251.67
62,050 at 2.71%$252.00
62,050 at 2.72%$252.33
62,050 at 2.73%$252.66
62,050 at 2.74%$252.99
62,050 at 2.75%$253.31
62,050 at 2.76%$253.64
62,050 at 2.77%$253.97
62,050 at 2.78%$254.30
62,050 at 2.79%$254.63
62,050 at 2.8%$254.96
62,050 at 2.81%$255.29
62,050 at 2.82%$255.62
62,050 at 2.83%$255.95
62,050 at 2.84%$256.28
62,050 at 2.85%$256.61
62,050 at 2.86%$256.94
62,050 at 2.87%$257.27
62,050 at 2.88%$257.61
62,050 at 2.89%$257.94
62,050 at 2.9%$258.27
62,050 at 2.91%$258.60
62,050 at 2.92%$258.94
62,050 at 2.93%$259.27
62,050 at 2.94%$259.60
62,050 at 2.95%$259.94
62,050 at 2.96%$260.27
62,050 at 2.97%$260.60
62,050 at 2.98%$260.94
62,050 at 2.99%$261.27
62,050 at 3%$261.61
62,050 at 3.01%$261.94
62,050 at 3.02%$262.28
62,050 at 3.03%$262.61
62,050 at 3.04%$262.95
62,050 at 3.05%$263.28
62,050 at 3.06%$263.62
62,050 at 3.07%$263.95
62,050 at 3.08%$264.29
62,050 at 3.09%$264.63
62,050 at 3.1%$264.96
62,050 at 3.11%$265.30
62,050 at 3.12%$265.64
62,050 at 3.13%$265.98
62,050 at 3.14%$266.31
62,050 at 3.15%$266.65
62,050 at 3.16%$266.99
62,050 at 3.17%$267.33
62,050 at 3.18%$267.67
62,050 at 3.19%$268.01
62,050 at 3.2%$268.35
62,050 at 3.21%$268.69
62,050 at 3.22%$269.02
62,050 at 3.23%$269.36
62,050 at 3.24%$269.71
62,050 at 3.25%$270.05
62,050 at 3.26%$270.39
62,050 at 3.27%$270.73
62,050 at 3.28%$271.07
62,050 at 3.29%$271.41
62,050 at 3.3%$271.75
62,050 at 3.31%$272.09
62,050 at 3.32%$272.44
62,050 at 3.33%$272.78
62,050 at 3.34%$273.12
62,050 at 3.35%$273.46
62,050 at 3.36%$273.81
62,050 at 3.37%$274.15
62,050 at 3.38%$274.49
62,050 at 3.39%$274.84
62,050 at 3.4%$275.18
62,050 at 3.41%$275.52
62,050 at 3.42%$275.87
62,050 at 3.43%$276.21
62,050 at 3.44%$276.56
62,050 at 3.45%$276.90
62,050 at 3.46%$277.25
62,050 at 3.47%$277.59
62,050 at 3.48%$277.94
62,050 at 3.49%$278.29
62,050 at 3.5%$278.63
Interest Rate 30 Year
62,050 at 3.51%$278.98
62,050 at 3.52%$279.33
62,050 at 3.53%$279.67
62,050 at 3.54%$280.02
62,050 at 3.55%$280.37
62,050 at 3.56%$280.71
62,050 at 3.57%$281.06
62,050 at 3.58%$281.41
62,050 at 3.59%$281.76
62,050 at 3.6%$282.11
62,050 at 3.61%$282.46
62,050 at 3.62%$282.81
62,050 at 3.63%$283.15
62,050 at 3.64%$283.50
62,050 at 3.65%$283.85
62,050 at 3.66%$284.20
62,050 at 3.67%$284.55
62,050 at 3.68%$284.90
62,050 at 3.69%$285.25
62,050 at 3.7%$285.61
62,050 at 3.71%$285.96
62,050 at 3.72%$286.31
62,050 at 3.73%$286.66
62,050 at 3.74%$287.01
62,050 at 3.75%$287.36
62,050 at 3.76%$287.72
62,050 at 3.77%$288.07
62,050 at 3.78%$288.42
62,050 at 3.79%$288.77
62,050 at 3.8%$289.13
62,050 at 3.81%$289.48
62,050 at 3.82%$289.83
62,050 at 3.83%$290.19
62,050 at 3.84%$290.54
62,050 at 3.85%$290.90
62,050 at 3.86%$291.25
62,050 at 3.87%$291.60
62,050 at 3.88%$291.96
62,050 at 3.89%$292.31
62,050 at 3.9%$292.67
62,050 at 3.91%$293.03
62,050 at 3.92%$293.38
62,050 at 3.93%$293.74
62,050 at 3.94%$294.09
62,050 at 3.95%$294.45
62,050 at 3.96%$294.81
62,050 at 3.97%$295.16
62,050 at 3.98%$295.52
62,050 at 3.99%$295.88
62,050 at 4%$296.24
62,050 at 4.01%$296.59
62,050 at 4.02%$296.95
62,050 at 4.03%$297.31
62,050 at 4.04%$297.67
62,050 at 4.05%$298.03
62,050 at 4.06%$298.39
62,050 at 4.07%$298.75
62,050 at 4.08%$299.11
62,050 at 4.09%$299.46
62,050 at 4.1%$299.82
62,050 at 4.11%$300.18
62,050 at 4.12%$300.54
62,050 at 4.13%$300.91
62,050 at 4.14%$301.27
62,050 at 4.15%$301.63
62,050 at 4.16%$301.99
62,050 at 4.17%$302.35
62,050 at 4.18%$302.71
62,050 at 4.19%$303.07
62,050 at 4.2%$303.44
62,050 at 4.21%$303.80
62,050 at 4.22%$304.16
62,050 at 4.23%$304.52
62,050 at 4.24%$304.89
62,050 at 4.25%$305.25
62,050 at 4.26%$305.61
62,050 at 4.27%$305.98
62,050 at 4.28%$306.34
62,050 at 4.29%$306.70
62,050 at 4.3%$307.07
62,050 at 4.31%$307.43
62,050 at 4.32%$307.80
62,050 at 4.33%$308.16
62,050 at 4.34%$308.53
62,050 at 4.35%$308.89
62,050 at 4.36%$309.26
62,050 at 4.37%$309.62
62,050 at 4.38%$309.99
62,050 at 4.39%$310.36
62,050 at 4.4%$310.72
62,050 at 4.41%$311.09
62,050 at 4.42%$311.46
62,050 at 4.43%$311.82
62,050 at 4.44%$312.19
62,050 at 4.45%$312.56
62,050 at 4.46%$312.93
62,050 at 4.47%$313.29
62,050 at 4.48%$313.66
62,050 at 4.49%$314.03
62,050 at 4.5%$314.40
62,050 at 4.51%$314.77
62,050 at 4.52%$315.14
62,050 at 4.53%$315.51
62,050 at 4.54%$315.87
62,050 at 4.55%$316.24
62,050 at 4.56%$316.61
62,050 at 4.57%$316.98
62,050 at 4.58%$317.35
62,050 at 4.59%$317.73
62,050 at 4.6%$318.10
62,050 at 4.61%$318.47
62,050 at 4.62%$318.84
62,050 at 4.63%$319.21
62,050 at 4.64%$319.58
62,050 at 4.65%$319.95
62,050 at 4.66%$320.32
62,050 at 4.67%$320.70
62,050 at 4.68%$321.07
62,050 at 4.69%$321.44
62,050 at 4.7%$321.81
62,050 at 4.71%$322.19
62,050 at 4.72%$322.56
62,050 at 4.73%$322.93
62,050 at 4.74%$323.31
62,050 at 4.75%$323.68
62,050 at 4.76%$324.06
62,050 at 4.77%$324.43
62,050 at 4.78%$324.81
62,050 at 4.79%$325.18
62,050 at 4.8%$325.55
62,050 at 4.81%$325.93
62,050 at 4.82%$326.31
62,050 at 4.83%$326.68
62,050 at 4.84%$327.06
62,050 at 4.85%$327.43
62,050 at 4.86%$327.81
62,050 at 4.87%$328.19
62,050 at 4.88%$328.56
62,050 at 4.89%$328.94
62,050 at 4.9%$329.32
62,050 at 4.91%$329.69
62,050 at 4.92%$330.07
62,050 at 4.93%$330.45
62,050 at 4.94%$330.83
62,050 at 4.95%$331.20
62,050 at 4.96%$331.58
62,050 at 4.97%$331.96
62,050 at 4.98%$332.34
62,050 at 4.99%$332.72
62,050 at 5%$333.10
Interest Rate 30 Year
62,050 at 5.01%$333.48
62,050 at 5.02%$333.86
62,050 at 5.03%$334.24
62,050 at 5.04%$334.62
62,050 at 5.05%$335.00
62,050 at 5.06%$335.38
62,050 at 5.07%$335.76
62,050 at 5.08%$336.14
62,050 at 5.09%$336.52
62,050 at 5.1%$336.90
62,050 at 5.11%$337.28
62,050 at 5.12%$337.66
62,050 at 5.13%$338.05
62,050 at 5.14%$338.43
62,050 at 5.15%$338.81
62,050 at 5.16%$339.19
62,050 at 5.17%$339.57
62,050 at 5.18%$339.96
62,050 at 5.19%$340.34
62,050 at 5.2%$340.72
62,050 at 5.21%$341.11
62,050 at 5.22%$341.49
62,050 at 5.23%$341.87
62,050 at 5.24%$342.26
62,050 at 5.25%$342.64
62,050 at 5.26%$343.03
62,050 at 5.27%$343.41
62,050 at 5.28%$343.80
62,050 at 5.29%$344.18
62,050 at 5.3%$344.57
62,050 at 5.31%$344.95
62,050 at 5.32%$345.34
62,050 at 5.33%$345.72
62,050 at 5.34%$346.11
62,050 at 5.35%$346.50
62,050 at 5.36%$346.88
62,050 at 5.37%$347.27
62,050 at 5.38%$347.66
62,050 at 5.39%$348.04
62,050 at 5.4%$348.43
62,050 at 5.41%$348.82
62,050 at 5.42%$349.20
62,050 at 5.43%$349.59
62,050 at 5.44%$349.98
62,050 at 5.45%$350.37
62,050 at 5.46%$350.76
62,050 at 5.47%$351.15
62,050 at 5.48%$351.53
62,050 at 5.49%$351.92
62,050 at 5.5%$352.31
62,050 at 5.51%$352.70
62,050 at 5.52%$353.09
62,050 at 5.53%$353.48
62,050 at 5.54%$353.87
62,050 at 5.55%$354.26
62,050 at 5.56%$354.65
62,050 at 5.57%$355.04
62,050 at 5.58%$355.43
62,050 at 5.59%$355.82
62,050 at 5.6%$356.22
62,050 at 5.61%$356.61
62,050 at 5.62%$357.00
62,050 at 5.63%$357.39
62,050 at 5.64%$357.78
62,050 at 5.65%$358.17
62,050 at 5.66%$358.57
62,050 at 5.67%$358.96
62,050 at 5.68%$359.35
62,050 at 5.69%$359.75
62,050 at 5.7%$360.14
62,050 at 5.71%$360.53
62,050 at 5.72%$360.93
62,050 at 5.73%$361.32
62,050 at 5.74%$361.71
62,050 at 5.75%$362.11
62,050 at 5.76%$362.50
62,050 at 5.77%$362.90
62,050 at 5.78%$363.29
62,050 at 5.79%$363.69
62,050 at 5.8%$364.08
62,050 at 5.81%$364.48
62,050 at 5.82%$364.87
62,050 at 5.83%$365.27
62,050 at 5.84%$365.66
62,050 at 5.85%$366.06
62,050 at 5.86%$366.45
62,050 at 5.87%$366.85
62,050 at 5.88%$367.25
62,050 at 5.89%$367.64
62,050 at 5.9%$368.04
62,050 at 5.91%$368.44
62,050 at 5.92%$368.84
62,050 at 5.93%$369.23
62,050 at 5.94%$369.63
62,050 at 5.95%$370.03
62,050 at 5.96%$370.43
62,050 at 5.97%$370.83
62,050 at 5.98%$371.22
62,050 at 5.99%$371.62
62,050 at 6%$372.02
62,050 at 6.01%$372.42
62,050 at 6.02%$372.82
62,050 at 6.03%$373.22
62,050 at 6.04%$373.62
62,050 at 6.05%$374.02
62,050 at 6.06%$374.42
62,050 at 6.07%$374.82
62,050 at 6.08%$375.22
62,050 at 6.09%$375.62
62,050 at 6.1%$376.02
62,050 at 6.11%$376.42
62,050 at 6.12%$376.82
62,050 at 6.13%$377.22
62,050 at 6.14%$377.62
62,050 at 6.15%$378.03
62,050 at 6.16%$378.43
62,050 at 6.17%$378.83
62,050 at 6.18%$379.23
62,050 at 6.19%$379.63
62,050 at 6.2%$380.04
62,050 at 6.21%$380.44
62,050 at 6.22%$380.84
62,050 at 6.23%$381.25
62,050 at 6.24%$381.65
62,050 at 6.25%$382.05
62,050 at 6.26%$382.46
62,050 at 6.27%$382.86
62,050 at 6.28%$383.26
62,050 at 6.29%$383.67
62,050 at 6.3%$384.07
62,050 at 6.31%$384.48
62,050 at 6.32%$384.88
62,050 at 6.33%$385.29
62,050 at 6.34%$385.69
62,050 at 6.35%$386.10
62,050 at 6.36%$386.50
62,050 at 6.37%$386.91
62,050 at 6.38%$387.31
62,050 at 6.39%$387.72
62,050 at 6.4%$388.13
62,050 at 6.41%$388.53
62,050 at 6.42%$388.94
62,050 at 6.43%$389.35
62,050 at 6.44%$389.75
62,050 at 6.45%$390.16
62,050 at 6.46%$390.57
62,050 at 6.47%$390.97
62,050 at 6.48%$391.38
62,050 at 6.49%$391.79
62,050 at 6.5%$392.20
Interest Rate 30 Year
62,050 at 6.51%$392.61
62,050 at 6.52%$393.01
62,050 at 6.53%$393.42
62,050 at 6.54%$393.83
62,050 at 6.55%$394.24
62,050 at 6.56%$394.65
62,050 at 6.57%$395.06
62,050 at 6.58%$395.47
62,050 at 6.59%$395.88
62,050 at 6.6%$396.29
62,050 at 6.61%$396.70
62,050 at 6.62%$397.11
62,050 at 6.63%$397.52
62,050 at 6.64%$397.93
62,050 at 6.65%$398.34
62,050 at 6.66%$398.75
62,050 at 6.67%$399.16
62,050 at 6.68%$399.57
62,050 at 6.69%$399.98
62,050 at 6.7%$400.39
62,050 at 6.71%$400.81
62,050 at 6.72%$401.22
62,050 at 6.73%$401.63
62,050 at 6.74%$402.04
62,050 at 6.75%$402.46
62,050 at 6.76%$402.87
62,050 at 6.77%$403.28
62,050 at 6.78%$403.69
62,050 at 6.79%$404.11
62,050 at 6.8%$404.52
62,050 at 6.81%$404.93
62,050 at 6.82%$405.35
62,050 at 6.83%$405.76
62,050 at 6.84%$406.17
62,050 at 6.85%$406.59
62,050 at 6.86%$407.00
62,050 at 6.87%$407.42
62,050 at 6.88%$407.83
62,050 at 6.89%$408.25
62,050 at 6.9%$408.66
62,050 at 6.91%$409.08
62,050 at 6.92%$409.49
62,050 at 6.93%$409.91
62,050 at 6.94%$410.32
62,050 at 6.95%$410.74
62,050 at 6.96%$411.15
62,050 at 6.97%$411.57
62,050 at 6.98%$411.99
62,050 at 6.99%$412.40
62,050 at 7%$412.82
62,050 at 7.01%$413.24
62,050 at 7.02%$413.65
62,050 at 7.03%$414.07
62,050 at 7.04%$414.49
62,050 at 7.05%$414.91
62,050 at 7.06%$415.32
62,050 at 7.07%$415.74
62,050 at 7.08%$416.16
62,050 at 7.09%$416.58
62,050 at 7.1%$417.00
62,050 at 7.11%$417.41
62,050 at 7.12%$417.83
62,050 at 7.13%$418.25
62,050 at 7.14%$418.67
62,050 at 7.15%$419.09
62,050 at 7.16%$419.51
62,050 at 7.17%$419.93
62,050 at 7.18%$420.35
62,050 at 7.19%$420.77
62,050 at 7.2%$421.19
62,050 at 7.21%$421.61
62,050 at 7.22%$422.03
62,050 at 7.23%$422.45
62,050 at 7.24%$422.87
62,050 at 7.25%$423.29
62,050 at 7.26%$423.71
62,050 at 7.27%$424.13
62,050 at 7.28%$424.55
62,050 at 7.29%$424.98
62,050 at 7.3%$425.40
62,050 at 7.31%$425.82
62,050 at 7.32%$426.24
62,050 at 7.33%$426.66
62,050 at 7.34%$427.08
62,050 at 7.35%$427.51
62,050 at 7.36%$427.93
62,050 at 7.37%$428.35
62,050 at 7.38%$428.78
62,050 at 7.39%$429.20
62,050 at 7.4%$429.62
62,050 at 7.41%$430.05
62,050 at 7.42%$430.47
62,050 at 7.43%$430.89
62,050 at 7.44%$431.32
62,050 at 7.45%$431.74
62,050 at 7.46%$432.16
62,050 at 7.47%$432.59
62,050 at 7.48%$433.01
62,050 at 7.49%$433.44
62,050 at 7.5%$433.86
62,050 at 7.51%$434.29
62,050 at 7.52%$434.71
62,050 at 7.53%$435.14
62,050 at 7.54%$435.56
62,050 at 7.55%$435.99
62,050 at 7.56%$436.41
62,050 at 7.57%$436.84
62,050 at 7.58%$437.27
62,050 at 7.59%$437.69
62,050 at 7.6%$438.12
62,050 at 7.61%$438.55
62,050 at 7.62%$438.97
62,050 at 7.63%$439.40
62,050 at 7.64%$439.83
62,050 at 7.65%$440.25
62,050 at 7.66%$440.68
62,050 at 7.67%$441.11
62,050 at 7.68%$441.54
62,050 at 7.69%$441.96
62,050 at 7.7%$442.39
62,050 at 7.71%$442.82
62,050 at 7.72%$443.25
62,050 at 7.73%$443.68
62,050 at 7.74%$444.11
62,050 at 7.75%$444.53
62,050 at 7.76%$444.96
62,050 at 7.77%$445.39
62,050 at 7.78%$445.82
62,050 at 7.79%$446.25
62,050 at 7.8%$446.68
62,050 at 7.81%$447.11
62,050 at 7.82%$447.54
62,050 at 7.83%$447.97
62,050 at 7.84%$448.40
62,050 at 7.85%$448.83
62,050 at 7.86%$449.26
62,050 at 7.87%$449.69
62,050 at 7.88%$450.12
62,050 at 7.89%$450.55
62,050 at 7.9%$450.98
62,050 at 7.91%$451.41
62,050 at 7.92%$451.85
62,050 at 7.93%$452.28
62,050 at 7.94%$452.71
62,050 at 7.95%$453.14
62,050 at 7.96%$453.57
62,050 at 7.97%$454.00
62,050 at 7.98%$454.44
62,050 at 7.99%$454.87
62,050 at 8%$455.30
More Amounts
What is the down payment for a $62,050 house? How much do you need to put down?
Percent Down Down Payment
1%621
2%1,241
3%1,862
4%2,482
5%3,103
6%3,723
7%4,344
8%4,964
9%5,585
10%6,205
11%6,826
12%7,446
13%8,067
14%8,687
15%9,308
16%9,928
17%10,549
18%11,169
19%11,790
20%12,410
Percent Down Down Payment
21%13,031
22%13,651
23%14,272
24%14,892
25%15,513
26%16,133
27%16,754
28%17,374
29%17,995
30%18,615
31%19,236
32%19,856
33%20,477
34%21,097
35%21,718
36%22,338
37%22,959
38%23,579
39%24,200
40%24,820
Percent Down Down Payment
41%25,441
42%26,061
43%26,682
44%27,302
45%27,923
46%28,543
47%29,164
48%29,784
49%30,405
50%31,025
51%31,646
52%32,266
53%32,887
54%33,507
55%34,128
56%34,748
57%35,369
58%35,989
59%36,610
60%37,230
Percent Down Down Payment
61%37,851
62%38,471
63%39,092
64%39,712
65%40,333
66%40,953
67%41,574
68%42,194
69%42,815
70%43,435
71%44,056
72%44,676
73%45,297
74%45,917
75%46,538
76%47,158
77%47,779
78%48,399
79%49,020
80%49,640
Percent Down Down Payment
81%50,261
82%50,881
83%51,502
84%52,122
85%52,743
86%53,363
87%53,984
88%54,604
89%55,225
90%55,845
91%56,466
92%57,086
93%57,707
94%58,327
95%58,948
96%59,568
97%60,189
98%60,809
99%61,430
100%62,050
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.