$62,550 Mortgage for 30 Years

What is the monthly payment of a 62,550 dollar loan?
$
$
%
%
years
Loan Tables for a $62,550 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 63k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $62,550 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
62,550 at 2.01%$231.51
62,550 at 2.02%$231.82
62,550 at 2.03%$232.14
62,550 at 2.04%$232.45
62,550 at 2.05%$232.76
62,550 at 2.06%$233.08
62,550 at 2.07%$233.39
62,550 at 2.08%$233.71
62,550 at 2.09%$234.02
62,550 at 2.1%$234.34
62,550 at 2.11%$234.65
62,550 at 2.12%$234.97
62,550 at 2.13%$235.28
62,550 at 2.14%$235.60
62,550 at 2.15%$235.92
62,550 at 2.16%$236.23
62,550 at 2.17%$236.55
62,550 at 2.18%$236.87
62,550 at 2.19%$237.19
62,550 at 2.2%$237.50
62,550 at 2.21%$237.82
62,550 at 2.22%$238.14
62,550 at 2.23%$238.46
62,550 at 2.24%$238.78
62,550 at 2.25%$239.09
62,550 at 2.26%$239.41
62,550 at 2.27%$239.73
62,550 at 2.28%$240.05
62,550 at 2.29%$240.37
62,550 at 2.3%$240.69
62,550 at 2.31%$241.01
62,550 at 2.32%$241.33
62,550 at 2.33%$241.66
62,550 at 2.34%$241.98
62,550 at 2.35%$242.30
62,550 at 2.36%$242.62
62,550 at 2.37%$242.94
62,550 at 2.38%$243.26
62,550 at 2.39%$243.59
62,550 at 2.4%$243.91
62,550 at 2.41%$244.23
62,550 at 2.42%$244.55
62,550 at 2.43%$244.88
62,550 at 2.44%$245.20
62,550 at 2.45%$245.53
62,550 at 2.46%$245.85
62,550 at 2.47%$246.17
62,550 at 2.48%$246.50
62,550 at 2.49%$246.82
62,550 at 2.5%$247.15
62,550 at 2.51%$247.47
62,550 at 2.52%$247.80
62,550 at 2.53%$248.12
62,550 at 2.54%$248.45
62,550 at 2.55%$248.78
62,550 at 2.56%$249.10
62,550 at 2.57%$249.43
62,550 at 2.58%$249.76
62,550 at 2.59%$250.08
62,550 at 2.6%$250.41
62,550 at 2.61%$250.74
62,550 at 2.62%$251.07
62,550 at 2.63%$251.40
62,550 at 2.64%$251.73
62,550 at 2.65%$252.05
62,550 at 2.66%$252.38
62,550 at 2.67%$252.71
62,550 at 2.68%$253.04
62,550 at 2.69%$253.37
62,550 at 2.7%$253.70
62,550 at 2.71%$254.03
62,550 at 2.72%$254.36
62,550 at 2.73%$254.69
62,550 at 2.74%$255.02
62,550 at 2.75%$255.35
62,550 at 2.76%$255.69
62,550 at 2.77%$256.02
62,550 at 2.78%$256.35
62,550 at 2.79%$256.68
62,550 at 2.8%$257.01
62,550 at 2.81%$257.35
62,550 at 2.82%$257.68
62,550 at 2.83%$258.01
62,550 at 2.84%$258.35
62,550 at 2.85%$258.68
62,550 at 2.86%$259.01
62,550 at 2.87%$259.35
62,550 at 2.88%$259.68
62,550 at 2.89%$260.02
62,550 at 2.9%$260.35
62,550 at 2.91%$260.69
62,550 at 2.92%$261.02
62,550 at 2.93%$261.36
62,550 at 2.94%$261.69
62,550 at 2.95%$262.03
62,550 at 2.96%$262.37
62,550 at 2.97%$262.70
62,550 at 2.98%$263.04
62,550 at 2.99%$263.38
62,550 at 3%$263.71
62,550 at 3.01%$264.05
62,550 at 3.02%$264.39
62,550 at 3.03%$264.73
62,550 at 3.04%$265.06
62,550 at 3.05%$265.40
62,550 at 3.06%$265.74
62,550 at 3.07%$266.08
62,550 at 3.08%$266.42
62,550 at 3.09%$266.76
62,550 at 3.1%$267.10
62,550 at 3.11%$267.44
62,550 at 3.12%$267.78
62,550 at 3.13%$268.12
62,550 at 3.14%$268.46
62,550 at 3.15%$268.80
62,550 at 3.16%$269.14
62,550 at 3.17%$269.48
62,550 at 3.18%$269.82
62,550 at 3.19%$270.17
62,550 at 3.2%$270.51
62,550 at 3.21%$270.85
62,550 at 3.22%$271.19
62,550 at 3.23%$271.54
62,550 at 3.24%$271.88
62,550 at 3.25%$272.22
62,550 at 3.26%$272.56
62,550 at 3.27%$272.91
62,550 at 3.28%$273.25
62,550 at 3.29%$273.60
62,550 at 3.3%$273.94
62,550 at 3.31%$274.29
62,550 at 3.32%$274.63
62,550 at 3.33%$274.98
62,550 at 3.34%$275.32
62,550 at 3.35%$275.67
62,550 at 3.36%$276.01
62,550 at 3.37%$276.36
62,550 at 3.38%$276.70
62,550 at 3.39%$277.05
62,550 at 3.4%$277.40
62,550 at 3.41%$277.74
62,550 at 3.42%$278.09
62,550 at 3.43%$278.44
62,550 at 3.44%$278.79
62,550 at 3.45%$279.13
62,550 at 3.46%$279.48
62,550 at 3.47%$279.83
62,550 at 3.48%$280.18
62,550 at 3.49%$280.53
62,550 at 3.5%$280.88
Interest Rate 30 Year
62,550 at 3.51%$281.23
62,550 at 3.52%$281.58
62,550 at 3.53%$281.93
62,550 at 3.54%$282.28
62,550 at 3.55%$282.63
62,550 at 3.56%$282.98
62,550 at 3.57%$283.33
62,550 at 3.58%$283.68
62,550 at 3.59%$284.03
62,550 at 3.6%$284.38
62,550 at 3.61%$284.73
62,550 at 3.62%$285.08
62,550 at 3.63%$285.44
62,550 at 3.64%$285.79
62,550 at 3.65%$286.14
62,550 at 3.66%$286.49
62,550 at 3.67%$286.85
62,550 at 3.68%$287.20
62,550 at 3.69%$287.55
62,550 at 3.7%$287.91
62,550 at 3.71%$288.26
62,550 at 3.72%$288.62
62,550 at 3.73%$288.97
62,550 at 3.74%$289.32
62,550 at 3.75%$289.68
62,550 at 3.76%$290.03
62,550 at 3.77%$290.39
62,550 at 3.78%$290.74
62,550 at 3.79%$291.10
62,550 at 3.8%$291.46
62,550 at 3.81%$291.81
62,550 at 3.82%$292.17
62,550 at 3.83%$292.53
62,550 at 3.84%$292.88
62,550 at 3.85%$293.24
62,550 at 3.86%$293.60
62,550 at 3.87%$293.95
62,550 at 3.88%$294.31
62,550 at 3.89%$294.67
62,550 at 3.9%$295.03
62,550 at 3.91%$295.39
62,550 at 3.92%$295.75
62,550 at 3.93%$296.10
62,550 at 3.94%$296.46
62,550 at 3.95%$296.82
62,550 at 3.96%$297.18
62,550 at 3.97%$297.54
62,550 at 3.98%$297.90
62,550 at 3.99%$298.26
62,550 at 4%$298.62
62,550 at 4.01%$298.98
62,550 at 4.02%$299.34
62,550 at 4.03%$299.71
62,550 at 4.04%$300.07
62,550 at 4.05%$300.43
62,550 at 4.06%$300.79
62,550 at 4.07%$301.15
62,550 at 4.08%$301.52
62,550 at 4.09%$301.88
62,550 at 4.1%$302.24
62,550 at 4.11%$302.60
62,550 at 4.12%$302.97
62,550 at 4.13%$303.33
62,550 at 4.14%$303.69
62,550 at 4.15%$304.06
62,550 at 4.16%$304.42
62,550 at 4.17%$304.79
62,550 at 4.18%$305.15
62,550 at 4.19%$305.52
62,550 at 4.2%$305.88
62,550 at 4.21%$306.25
62,550 at 4.22%$306.61
62,550 at 4.23%$306.98
62,550 at 4.24%$307.34
62,550 at 4.25%$307.71
62,550 at 4.26%$308.07
62,550 at 4.27%$308.44
62,550 at 4.28%$308.81
62,550 at 4.29%$309.17
62,550 at 4.3%$309.54
62,550 at 4.31%$309.91
62,550 at 4.32%$310.28
62,550 at 4.33%$310.64
62,550 at 4.34%$311.01
62,550 at 4.35%$311.38
62,550 at 4.36%$311.75
62,550 at 4.37%$312.12
62,550 at 4.38%$312.49
62,550 at 4.39%$312.86
62,550 at 4.4%$313.23
62,550 at 4.41%$313.60
62,550 at 4.42%$313.97
62,550 at 4.43%$314.34
62,550 at 4.44%$314.71
62,550 at 4.45%$315.08
62,550 at 4.46%$315.45
62,550 at 4.47%$315.82
62,550 at 4.48%$316.19
62,550 at 4.49%$316.56
62,550 at 4.5%$316.93
62,550 at 4.51%$317.30
62,550 at 4.52%$317.68
62,550 at 4.53%$318.05
62,550 at 4.54%$318.42
62,550 at 4.55%$318.79
62,550 at 4.56%$319.17
62,550 at 4.57%$319.54
62,550 at 4.58%$319.91
62,550 at 4.59%$320.29
62,550 at 4.6%$320.66
62,550 at 4.61%$321.03
62,550 at 4.62%$321.41
62,550 at 4.63%$321.78
62,550 at 4.64%$322.16
62,550 at 4.65%$322.53
62,550 at 4.66%$322.91
62,550 at 4.67%$323.28
62,550 at 4.68%$323.66
62,550 at 4.69%$324.03
62,550 at 4.7%$324.41
62,550 at 4.71%$324.78
62,550 at 4.72%$325.16
62,550 at 4.73%$325.54
62,550 at 4.74%$325.91
62,550 at 4.75%$326.29
62,550 at 4.76%$326.67
62,550 at 4.77%$327.04
62,550 at 4.78%$327.42
62,550 at 4.79%$327.80
62,550 at 4.8%$328.18
62,550 at 4.81%$328.56
62,550 at 4.82%$328.93
62,550 at 4.83%$329.31
62,550 at 4.84%$329.69
62,550 at 4.85%$330.07
62,550 at 4.86%$330.45
62,550 at 4.87%$330.83
62,550 at 4.88%$331.21
62,550 at 4.89%$331.59
62,550 at 4.9%$331.97
62,550 at 4.91%$332.35
62,550 at 4.92%$332.73
62,550 at 4.93%$333.11
62,550 at 4.94%$333.49
62,550 at 4.95%$333.87
62,550 at 4.96%$334.25
62,550 at 4.97%$334.64
62,550 at 4.98%$335.02
62,550 at 4.99%$335.40
62,550 at 5%$335.78
Interest Rate 30 Year
62,550 at 5.01%$336.16
62,550 at 5.02%$336.55
62,550 at 5.03%$336.93
62,550 at 5.04%$337.31
62,550 at 5.05%$337.70
62,550 at 5.06%$338.08
62,550 at 5.07%$338.46
62,550 at 5.08%$338.85
62,550 at 5.09%$339.23
62,550 at 5.1%$339.62
62,550 at 5.11%$340.00
62,550 at 5.12%$340.38
62,550 at 5.13%$340.77
62,550 at 5.14%$341.15
62,550 at 5.15%$341.54
62,550 at 5.16%$341.92
62,550 at 5.17%$342.31
62,550 at 5.18%$342.70
62,550 at 5.19%$343.08
62,550 at 5.2%$343.47
62,550 at 5.21%$343.86
62,550 at 5.22%$344.24
62,550 at 5.23%$344.63
62,550 at 5.24%$345.02
62,550 at 5.25%$345.40
62,550 at 5.26%$345.79
62,550 at 5.27%$346.18
62,550 at 5.28%$346.57
62,550 at 5.29%$346.95
62,550 at 5.3%$347.34
62,550 at 5.31%$347.73
62,550 at 5.32%$348.12
62,550 at 5.33%$348.51
62,550 at 5.34%$348.90
62,550 at 5.35%$349.29
62,550 at 5.36%$349.68
62,550 at 5.37%$350.07
62,550 at 5.38%$350.46
62,550 at 5.39%$350.85
62,550 at 5.4%$351.24
62,550 at 5.41%$351.63
62,550 at 5.42%$352.02
62,550 at 5.43%$352.41
62,550 at 5.44%$352.80
62,550 at 5.45%$353.19
62,550 at 5.46%$353.58
62,550 at 5.47%$353.98
62,550 at 5.48%$354.37
62,550 at 5.49%$354.76
62,550 at 5.5%$355.15
62,550 at 5.51%$355.54
62,550 at 5.52%$355.94
62,550 at 5.53%$356.33
62,550 at 5.54%$356.72
62,550 at 5.55%$357.12
62,550 at 5.56%$357.51
62,550 at 5.57%$357.90
62,550 at 5.58%$358.30
62,550 at 5.59%$358.69
62,550 at 5.6%$359.09
62,550 at 5.61%$359.48
62,550 at 5.62%$359.88
62,550 at 5.63%$360.27
62,550 at 5.64%$360.67
62,550 at 5.65%$361.06
62,550 at 5.66%$361.46
62,550 at 5.67%$361.85
62,550 at 5.68%$362.25
62,550 at 5.69%$362.64
62,550 at 5.7%$363.04
62,550 at 5.71%$363.44
62,550 at 5.72%$363.83
62,550 at 5.73%$364.23
62,550 at 5.74%$364.63
62,550 at 5.75%$365.02
62,550 at 5.76%$365.42
62,550 at 5.77%$365.82
62,550 at 5.78%$366.22
62,550 at 5.79%$366.62
62,550 at 5.8%$367.01
62,550 at 5.81%$367.41
62,550 at 5.82%$367.81
62,550 at 5.83%$368.21
62,550 at 5.84%$368.61
62,550 at 5.85%$369.01
62,550 at 5.86%$369.41
62,550 at 5.87%$369.81
62,550 at 5.88%$370.21
62,550 at 5.89%$370.61
62,550 at 5.9%$371.01
62,550 at 5.91%$371.41
62,550 at 5.92%$371.81
62,550 at 5.93%$372.21
62,550 at 5.94%$372.61
62,550 at 5.95%$373.01
62,550 at 5.96%$373.41
62,550 at 5.97%$373.81
62,550 at 5.98%$374.21
62,550 at 5.99%$374.62
62,550 at 6%$375.02
62,550 at 6.01%$375.42
62,550 at 6.02%$375.82
62,550 at 6.03%$376.23
62,550 at 6.04%$376.63
62,550 at 6.05%$377.03
62,550 at 6.06%$377.44
62,550 at 6.07%$377.84
62,550 at 6.08%$378.24
62,550 at 6.09%$378.65
62,550 at 6.1%$379.05
62,550 at 6.11%$379.45
62,550 at 6.12%$379.86
62,550 at 6.13%$380.26
62,550 at 6.14%$380.67
62,550 at 6.15%$381.07
62,550 at 6.16%$381.48
62,550 at 6.17%$381.88
62,550 at 6.18%$382.29
62,550 at 6.19%$382.69
62,550 at 6.2%$383.10
62,550 at 6.21%$383.51
62,550 at 6.22%$383.91
62,550 at 6.23%$384.32
62,550 at 6.24%$384.72
62,550 at 6.25%$385.13
62,550 at 6.26%$385.54
62,550 at 6.27%$385.95
62,550 at 6.28%$386.35
62,550 at 6.29%$386.76
62,550 at 6.3%$387.17
62,550 at 6.31%$387.58
62,550 at 6.32%$387.98
62,550 at 6.33%$388.39
62,550 at 6.34%$388.80
62,550 at 6.35%$389.21
62,550 at 6.36%$389.62
62,550 at 6.37%$390.03
62,550 at 6.38%$390.44
62,550 at 6.39%$390.84
62,550 at 6.4%$391.25
62,550 at 6.41%$391.66
62,550 at 6.42%$392.07
62,550 at 6.43%$392.48
62,550 at 6.44%$392.89
62,550 at 6.45%$393.30
62,550 at 6.46%$393.71
62,550 at 6.47%$394.13
62,550 at 6.48%$394.54
62,550 at 6.49%$394.95
62,550 at 6.5%$395.36
Interest Rate 30 Year
62,550 at 6.51%$395.77
62,550 at 6.52%$396.18
62,550 at 6.53%$396.59
62,550 at 6.54%$397.01
62,550 at 6.55%$397.42
62,550 at 6.56%$397.83
62,550 at 6.57%$398.24
62,550 at 6.58%$398.66
62,550 at 6.59%$399.07
62,550 at 6.6%$399.48
62,550 at 6.61%$399.89
62,550 at 6.62%$400.31
62,550 at 6.63%$400.72
62,550 at 6.64%$401.14
62,550 at 6.65%$401.55
62,550 at 6.66%$401.96
62,550 at 6.67%$402.38
62,550 at 6.68%$402.79
62,550 at 6.69%$403.21
62,550 at 6.7%$403.62
62,550 at 6.71%$404.04
62,550 at 6.72%$404.45
62,550 at 6.73%$404.87
62,550 at 6.74%$405.28
62,550 at 6.75%$405.70
62,550 at 6.76%$406.11
62,550 at 6.77%$406.53
62,550 at 6.78%$406.95
62,550 at 6.79%$407.36
62,550 at 6.8%$407.78
62,550 at 6.81%$408.20
62,550 at 6.82%$408.61
62,550 at 6.83%$409.03
62,550 at 6.84%$409.45
62,550 at 6.85%$409.86
62,550 at 6.86%$410.28
62,550 at 6.87%$410.70
62,550 at 6.88%$411.12
62,550 at 6.89%$411.54
62,550 at 6.9%$411.95
62,550 at 6.91%$412.37
62,550 at 6.92%$412.79
62,550 at 6.93%$413.21
62,550 at 6.94%$413.63
62,550 at 6.95%$414.05
62,550 at 6.96%$414.47
62,550 at 6.97%$414.89
62,550 at 6.98%$415.31
62,550 at 6.99%$415.73
62,550 at 7%$416.15
62,550 at 7.01%$416.57
62,550 at 7.02%$416.99
62,550 at 7.03%$417.41
62,550 at 7.04%$417.83
62,550 at 7.05%$418.25
62,550 at 7.06%$418.67
62,550 at 7.07%$419.09
62,550 at 7.08%$419.51
62,550 at 7.09%$419.93
62,550 at 7.1%$420.36
62,550 at 7.11%$420.78
62,550 at 7.12%$421.20
62,550 at 7.13%$421.62
62,550 at 7.14%$422.04
62,550 at 7.15%$422.47
62,550 at 7.16%$422.89
62,550 at 7.17%$423.31
62,550 at 7.18%$423.74
62,550 at 7.19%$424.16
62,550 at 7.2%$424.58
62,550 at 7.21%$425.01
62,550 at 7.22%$425.43
62,550 at 7.23%$425.85
62,550 at 7.24%$426.28
62,550 at 7.25%$426.70
62,550 at 7.26%$427.13
62,550 at 7.27%$427.55
62,550 at 7.28%$427.97
62,550 at 7.29%$428.40
62,550 at 7.3%$428.82
62,550 at 7.31%$429.25
62,550 at 7.32%$429.68
62,550 at 7.33%$430.10
62,550 at 7.34%$430.53
62,550 at 7.35%$430.95
62,550 at 7.36%$431.38
62,550 at 7.37%$431.80
62,550 at 7.38%$432.23
62,550 at 7.39%$432.66
62,550 at 7.4%$433.08
62,550 at 7.41%$433.51
62,550 at 7.42%$433.94
62,550 at 7.43%$434.36
62,550 at 7.44%$434.79
62,550 at 7.45%$435.22
62,550 at 7.46%$435.65
62,550 at 7.47%$436.07
62,550 at 7.48%$436.50
62,550 at 7.49%$436.93
62,550 at 7.5%$437.36
62,550 at 7.51%$437.79
62,550 at 7.52%$438.22
62,550 at 7.53%$438.64
62,550 at 7.54%$439.07
62,550 at 7.55%$439.50
62,550 at 7.56%$439.93
62,550 at 7.57%$440.36
62,550 at 7.58%$440.79
62,550 at 7.59%$441.22
62,550 at 7.6%$441.65
62,550 at 7.61%$442.08
62,550 at 7.62%$442.51
62,550 at 7.63%$442.94
62,550 at 7.64%$443.37
62,550 at 7.65%$443.80
62,550 at 7.66%$444.23
62,550 at 7.67%$444.66
62,550 at 7.68%$445.09
62,550 at 7.69%$445.53
62,550 at 7.7%$445.96
62,550 at 7.71%$446.39
62,550 at 7.72%$446.82
62,550 at 7.73%$447.25
62,550 at 7.74%$447.68
62,550 at 7.75%$448.12
62,550 at 7.76%$448.55
62,550 at 7.77%$448.98
62,550 at 7.78%$449.41
62,550 at 7.79%$449.85
62,550 at 7.8%$450.28
62,550 at 7.81%$450.71
62,550 at 7.82%$451.15
62,550 at 7.83%$451.58
62,550 at 7.84%$452.01
62,550 at 7.85%$452.45
62,550 at 7.86%$452.88
62,550 at 7.87%$453.31
62,550 at 7.88%$453.75
62,550 at 7.89%$454.18
62,550 at 7.9%$454.62
62,550 at 7.91%$455.05
62,550 at 7.92%$455.49
62,550 at 7.93%$455.92
62,550 at 7.94%$456.36
62,550 at 7.95%$456.79
62,550 at 7.96%$457.23
62,550 at 7.97%$457.66
62,550 at 7.98%$458.10
62,550 at 7.99%$458.53
62,550 at 8%$458.97
More Amounts
What is the down payment for a $62,550 house? How much do you need to put down?
Percent Down Down Payment
1%626
2%1,251
3%1,877
4%2,502
5%3,128
6%3,753
7%4,379
8%5,004
9%5,630
10%6,255
11%6,881
12%7,506
13%8,132
14%8,757
15%9,383
16%10,008
17%10,634
18%11,259
19%11,885
20%12,510
Percent Down Down Payment
21%13,136
22%13,761
23%14,387
24%15,012
25%15,638
26%16,263
27%16,889
28%17,514
29%18,140
30%18,765
31%19,391
32%20,016
33%20,642
34%21,267
35%21,893
36%22,518
37%23,144
38%23,769
39%24,395
40%25,020
Percent Down Down Payment
41%25,646
42%26,271
43%26,897
44%27,522
45%28,148
46%28,773
47%29,399
48%30,024
49%30,650
50%31,275
51%31,901
52%32,526
53%33,152
54%33,777
55%34,403
56%35,028
57%35,654
58%36,279
59%36,905
60%37,530
Percent Down Down Payment
61%38,156
62%38,781
63%39,407
64%40,032
65%40,658
66%41,283
67%41,909
68%42,534
69%43,160
70%43,785
71%44,411
72%45,036
73%45,662
74%46,287
75%46,913
76%47,538
77%48,164
78%48,789
79%49,415
80%50,040
Percent Down Down Payment
81%50,666
82%51,291
83%51,917
84%52,542
85%53,168
86%53,793
87%54,419
88%55,044
89%55,670
90%56,295
91%56,921
92%57,546
93%58,172
94%58,797
95%59,423
96%60,048
97%60,674
98%61,299
99%61,925
100%62,550
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.