$62,950 Mortgage for 30 Years

What is the monthly payment of a 62,950 dollar loan?
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Loan Tables for a $62,950 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 $62,950 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
62,950 at 2.01%$232.99
62,950 at 2.02%$233.31
62,950 at 2.03%$233.62
62,950 at 2.04%$233.94
62,950 at 2.05%$234.25
62,950 at 2.06%$234.57
62,950 at 2.07%$234.89
62,950 at 2.08%$235.20
62,950 at 2.09%$235.52
62,950 at 2.1%$235.84
62,950 at 2.11%$236.15
62,950 at 2.12%$236.47
62,950 at 2.13%$236.79
62,950 at 2.14%$237.11
62,950 at 2.15%$237.43
62,950 at 2.16%$237.74
62,950 at 2.17%$238.06
62,950 at 2.18%$238.38
62,950 at 2.19%$238.70
62,950 at 2.2%$239.02
62,950 at 2.21%$239.34
62,950 at 2.22%$239.66
62,950 at 2.23%$239.98
62,950 at 2.24%$240.30
62,950 at 2.25%$240.62
62,950 at 2.26%$240.95
62,950 at 2.27%$241.27
62,950 at 2.28%$241.59
62,950 at 2.29%$241.91
62,950 at 2.3%$242.23
62,950 at 2.31%$242.55
62,950 at 2.32%$242.88
62,950 at 2.33%$243.20
62,950 at 2.34%$243.52
62,950 at 2.35%$243.85
62,950 at 2.36%$244.17
62,950 at 2.37%$244.49
62,950 at 2.38%$244.82
62,950 at 2.39%$245.14
62,950 at 2.4%$245.47
62,950 at 2.41%$245.79
62,950 at 2.42%$246.12
62,950 at 2.43%$246.44
62,950 at 2.44%$246.77
62,950 at 2.45%$247.10
62,950 at 2.46%$247.42
62,950 at 2.47%$247.75
62,950 at 2.48%$248.07
62,950 at 2.49%$248.40
62,950 at 2.5%$248.73
62,950 at 2.51%$249.06
62,950 at 2.52%$249.38
62,950 at 2.53%$249.71
62,950 at 2.54%$250.04
62,950 at 2.55%$250.37
62,950 at 2.56%$250.70
62,950 at 2.57%$251.03
62,950 at 2.58%$251.35
62,950 at 2.59%$251.68
62,950 at 2.6%$252.01
62,950 at 2.61%$252.34
62,950 at 2.62%$252.67
62,950 at 2.63%$253.00
62,950 at 2.64%$253.33
62,950 at 2.65%$253.67
62,950 at 2.66%$254.00
62,950 at 2.67%$254.33
62,950 at 2.68%$254.66
62,950 at 2.69%$254.99
62,950 at 2.7%$255.32
62,950 at 2.71%$255.66
62,950 at 2.72%$255.99
62,950 at 2.73%$256.32
62,950 at 2.74%$256.65
62,950 at 2.75%$256.99
62,950 at 2.76%$257.32
62,950 at 2.77%$257.66
62,950 at 2.78%$257.99
62,950 at 2.79%$258.32
62,950 at 2.8%$258.66
62,950 at 2.81%$258.99
62,950 at 2.82%$259.33
62,950 at 2.83%$259.66
62,950 at 2.84%$260.00
62,950 at 2.85%$260.33
62,950 at 2.86%$260.67
62,950 at 2.87%$261.01
62,950 at 2.88%$261.34
62,950 at 2.89%$261.68
62,950 at 2.9%$262.02
62,950 at 2.91%$262.35
62,950 at 2.92%$262.69
62,950 at 2.93%$263.03
62,950 at 2.94%$263.37
62,950 at 2.95%$263.71
62,950 at 2.96%$264.04
62,950 at 2.97%$264.38
62,950 at 2.98%$264.72
62,950 at 2.99%$265.06
62,950 at 3%$265.40
62,950 at 3.01%$265.74
62,950 at 3.02%$266.08
62,950 at 3.03%$266.42
62,950 at 3.04%$266.76
62,950 at 3.05%$267.10
62,950 at 3.06%$267.44
62,950 at 3.07%$267.78
62,950 at 3.08%$268.12
62,950 at 3.09%$268.47
62,950 at 3.1%$268.81
62,950 at 3.11%$269.15
62,950 at 3.12%$269.49
62,950 at 3.13%$269.83
62,950 at 3.14%$270.18
62,950 at 3.15%$270.52
62,950 at 3.16%$270.86
62,950 at 3.17%$271.21
62,950 at 3.18%$271.55
62,950 at 3.19%$271.89
62,950 at 3.2%$272.24
62,950 at 3.21%$272.58
62,950 at 3.22%$272.93
62,950 at 3.23%$273.27
62,950 at 3.24%$273.62
62,950 at 3.25%$273.96
62,950 at 3.26%$274.31
62,950 at 3.27%$274.65
62,950 at 3.28%$275.00
62,950 at 3.29%$275.35
62,950 at 3.3%$275.69
62,950 at 3.31%$276.04
62,950 at 3.32%$276.39
62,950 at 3.33%$276.73
62,950 at 3.34%$277.08
62,950 at 3.35%$277.43
62,950 at 3.36%$277.78
62,950 at 3.37%$278.13
62,950 at 3.38%$278.47
62,950 at 3.39%$278.82
62,950 at 3.4%$279.17
62,950 at 3.41%$279.52
62,950 at 3.42%$279.87
62,950 at 3.43%$280.22
62,950 at 3.44%$280.57
62,950 at 3.45%$280.92
62,950 at 3.46%$281.27
62,950 at 3.47%$281.62
62,950 at 3.48%$281.97
62,950 at 3.49%$282.32
62,950 at 3.5%$282.67
Interest Rate 30 Year
62,950 at 3.51%$283.03
62,950 at 3.52%$283.38
62,950 at 3.53%$283.73
62,950 at 3.54%$284.08
62,950 at 3.55%$284.43
62,950 at 3.56%$284.79
62,950 at 3.57%$285.14
62,950 at 3.58%$285.49
62,950 at 3.59%$285.85
62,950 at 3.6%$286.20
62,950 at 3.61%$286.55
62,950 at 3.62%$286.91
62,950 at 3.63%$287.26
62,950 at 3.64%$287.62
62,950 at 3.65%$287.97
62,950 at 3.66%$288.33
62,950 at 3.67%$288.68
62,950 at 3.68%$289.04
62,950 at 3.69%$289.39
62,950 at 3.7%$289.75
62,950 at 3.71%$290.10
62,950 at 3.72%$290.46
62,950 at 3.73%$290.82
62,950 at 3.74%$291.17
62,950 at 3.75%$291.53
62,950 at 3.76%$291.89
62,950 at 3.77%$292.25
62,950 at 3.78%$292.60
62,950 at 3.79%$292.96
62,950 at 3.8%$293.32
62,950 at 3.81%$293.68
62,950 at 3.82%$294.04
62,950 at 3.83%$294.40
62,950 at 3.84%$294.76
62,950 at 3.85%$295.11
62,950 at 3.86%$295.47
62,950 at 3.87%$295.83
62,950 at 3.88%$296.19
62,950 at 3.89%$296.55
62,950 at 3.9%$296.92
62,950 at 3.91%$297.28
62,950 at 3.92%$297.64
62,950 at 3.93%$298.00
62,950 at 3.94%$298.36
62,950 at 3.95%$298.72
62,950 at 3.96%$299.08
62,950 at 3.97%$299.45
62,950 at 3.98%$299.81
62,950 at 3.99%$300.17
62,950 at 4%$300.53
62,950 at 4.01%$300.90
62,950 at 4.02%$301.26
62,950 at 4.03%$301.62
62,950 at 4.04%$301.99
62,950 at 4.05%$302.35
62,950 at 4.06%$302.71
62,950 at 4.07%$303.08
62,950 at 4.08%$303.44
62,950 at 4.09%$303.81
62,950 at 4.1%$304.17
62,950 at 4.11%$304.54
62,950 at 4.12%$304.90
62,950 at 4.13%$305.27
62,950 at 4.14%$305.64
62,950 at 4.15%$306.00
62,950 at 4.16%$306.37
62,950 at 4.17%$306.74
62,950 at 4.18%$307.10
62,950 at 4.19%$307.47
62,950 at 4.2%$307.84
62,950 at 4.21%$308.20
62,950 at 4.22%$308.57
62,950 at 4.23%$308.94
62,950 at 4.24%$309.31
62,950 at 4.25%$309.68
62,950 at 4.26%$310.04
62,950 at 4.27%$310.41
62,950 at 4.28%$310.78
62,950 at 4.29%$311.15
62,950 at 4.3%$311.52
62,950 at 4.31%$311.89
62,950 at 4.32%$312.26
62,950 at 4.33%$312.63
62,950 at 4.34%$313.00
62,950 at 4.35%$313.37
62,950 at 4.36%$313.74
62,950 at 4.37%$314.11
62,950 at 4.38%$314.49
62,950 at 4.39%$314.86
62,950 at 4.4%$315.23
62,950 at 4.41%$315.60
62,950 at 4.42%$315.97
62,950 at 4.43%$316.35
62,950 at 4.44%$316.72
62,950 at 4.45%$317.09
62,950 at 4.46%$317.46
62,950 at 4.47%$317.84
62,950 at 4.48%$318.21
62,950 at 4.49%$318.58
62,950 at 4.5%$318.96
62,950 at 4.51%$319.33
62,950 at 4.52%$319.71
62,950 at 4.53%$320.08
62,950 at 4.54%$320.46
62,950 at 4.55%$320.83
62,950 at 4.56%$321.21
62,950 at 4.57%$321.58
62,950 at 4.58%$321.96
62,950 at 4.59%$322.33
62,950 at 4.6%$322.71
62,950 at 4.61%$323.09
62,950 at 4.62%$323.46
62,950 at 4.63%$323.84
62,950 at 4.64%$324.22
62,950 at 4.65%$324.59
62,950 at 4.66%$324.97
62,950 at 4.67%$325.35
62,950 at 4.68%$325.73
62,950 at 4.69%$326.10
62,950 at 4.7%$326.48
62,950 at 4.71%$326.86
62,950 at 4.72%$327.24
62,950 at 4.73%$327.62
62,950 at 4.74%$328.00
62,950 at 4.75%$328.38
62,950 at 4.76%$328.76
62,950 at 4.77%$329.14
62,950 at 4.78%$329.52
62,950 at 4.79%$329.90
62,950 at 4.8%$330.28
62,950 at 4.81%$330.66
62,950 at 4.82%$331.04
62,950 at 4.83%$331.42
62,950 at 4.84%$331.80
62,950 at 4.85%$332.18
62,950 at 4.86%$332.56
62,950 at 4.87%$332.95
62,950 at 4.88%$333.33
62,950 at 4.89%$333.71
62,950 at 4.9%$334.09
62,950 at 4.91%$334.48
62,950 at 4.92%$334.86
62,950 at 4.93%$335.24
62,950 at 4.94%$335.62
62,950 at 4.95%$336.01
62,950 at 4.96%$336.39
62,950 at 4.97%$336.78
62,950 at 4.98%$337.16
62,950 at 4.99%$337.54
62,950 at 5%$337.93
Interest Rate 30 Year
62,950 at 5.01%$338.31
62,950 at 5.02%$338.70
62,950 at 5.03%$339.08
62,950 at 5.04%$339.47
62,950 at 5.05%$339.86
62,950 at 5.06%$340.24
62,950 at 5.07%$340.63
62,950 at 5.08%$341.01
62,950 at 5.09%$341.40
62,950 at 5.1%$341.79
62,950 at 5.11%$342.17
62,950 at 5.12%$342.56
62,950 at 5.13%$342.95
62,950 at 5.14%$343.34
62,950 at 5.15%$343.72
62,950 at 5.16%$344.11
62,950 at 5.17%$344.50
62,950 at 5.18%$344.89
62,950 at 5.19%$345.28
62,950 at 5.2%$345.67
62,950 at 5.21%$346.05
62,950 at 5.22%$346.44
62,950 at 5.23%$346.83
62,950 at 5.24%$347.22
62,950 at 5.25%$347.61
62,950 at 5.26%$348.00
62,950 at 5.27%$348.39
62,950 at 5.28%$348.78
62,950 at 5.29%$349.17
62,950 at 5.3%$349.56
62,950 at 5.31%$349.96
62,950 at 5.32%$350.35
62,950 at 5.33%$350.74
62,950 at 5.34%$351.13
62,950 at 5.35%$351.52
62,950 at 5.36%$351.91
62,950 at 5.37%$352.31
62,950 at 5.38%$352.70
62,950 at 5.39%$353.09
62,950 at 5.4%$353.48
62,950 at 5.41%$353.88
62,950 at 5.42%$354.27
62,950 at 5.43%$354.66
62,950 at 5.44%$355.06
62,950 at 5.45%$355.45
62,950 at 5.46%$355.84
62,950 at 5.47%$356.24
62,950 at 5.48%$356.63
62,950 at 5.49%$357.03
62,950 at 5.5%$357.42
62,950 at 5.51%$357.82
62,950 at 5.52%$358.21
62,950 at 5.53%$358.61
62,950 at 5.54%$359.00
62,950 at 5.55%$359.40
62,950 at 5.56%$359.80
62,950 at 5.57%$360.19
62,950 at 5.58%$360.59
62,950 at 5.59%$360.99
62,950 at 5.6%$361.38
62,950 at 5.61%$361.78
62,950 at 5.62%$362.18
62,950 at 5.63%$362.57
62,950 at 5.64%$362.97
62,950 at 5.65%$363.37
62,950 at 5.66%$363.77
62,950 at 5.67%$364.17
62,950 at 5.68%$364.56
62,950 at 5.69%$364.96
62,950 at 5.7%$365.36
62,950 at 5.71%$365.76
62,950 at 5.72%$366.16
62,950 at 5.73%$366.56
62,950 at 5.74%$366.96
62,950 at 5.75%$367.36
62,950 at 5.76%$367.76
62,950 at 5.77%$368.16
62,950 at 5.78%$368.56
62,950 at 5.79%$368.96
62,950 at 5.8%$369.36
62,950 at 5.81%$369.76
62,950 at 5.82%$370.16
62,950 at 5.83%$370.56
62,950 at 5.84%$370.97
62,950 at 5.85%$371.37
62,950 at 5.86%$371.77
62,950 at 5.87%$372.17
62,950 at 5.88%$372.57
62,950 at 5.89%$372.98
62,950 at 5.9%$373.38
62,950 at 5.91%$373.78
62,950 at 5.92%$374.19
62,950 at 5.93%$374.59
62,950 at 5.94%$374.99
62,950 at 5.95%$375.40
62,950 at 5.96%$375.80
62,950 at 5.97%$376.20
62,950 at 5.98%$376.61
62,950 at 5.99%$377.01
62,950 at 6%$377.42
62,950 at 6.01%$377.82
62,950 at 6.02%$378.23
62,950 at 6.03%$378.63
62,950 at 6.04%$379.04
62,950 at 6.05%$379.44
62,950 at 6.06%$379.85
62,950 at 6.07%$380.25
62,950 at 6.08%$380.66
62,950 at 6.09%$381.07
62,950 at 6.1%$381.47
62,950 at 6.11%$381.88
62,950 at 6.12%$382.29
62,950 at 6.13%$382.69
62,950 at 6.14%$383.10
62,950 at 6.15%$383.51
62,950 at 6.16%$383.92
62,950 at 6.17%$384.32
62,950 at 6.18%$384.73
62,950 at 6.19%$385.14
62,950 at 6.2%$385.55
62,950 at 6.21%$385.96
62,950 at 6.22%$386.37
62,950 at 6.23%$386.78
62,950 at 6.24%$387.18
62,950 at 6.25%$387.59
62,950 at 6.26%$388.00
62,950 at 6.27%$388.41
62,950 at 6.28%$388.82
62,950 at 6.29%$389.23
62,950 at 6.3%$389.64
62,950 at 6.31%$390.05
62,950 at 6.32%$390.46
62,950 at 6.33%$390.88
62,950 at 6.34%$391.29
62,950 at 6.35%$391.70
62,950 at 6.36%$392.11
62,950 at 6.37%$392.52
62,950 at 6.38%$392.93
62,950 at 6.39%$393.34
62,950 at 6.4%$393.76
62,950 at 6.41%$394.17
62,950 at 6.42%$394.58
62,950 at 6.43%$394.99
62,950 at 6.44%$395.41
62,950 at 6.45%$395.82
62,950 at 6.46%$396.23
62,950 at 6.47%$396.65
62,950 at 6.48%$397.06
62,950 at 6.49%$397.47
62,950 at 6.5%$397.89
Interest Rate 30 Year
62,950 at 6.51%$398.30
62,950 at 6.52%$398.72
62,950 at 6.53%$399.13
62,950 at 6.54%$399.54
62,950 at 6.55%$399.96
62,950 at 6.56%$400.37
62,950 at 6.57%$400.79
62,950 at 6.58%$401.20
62,950 at 6.59%$401.62
62,950 at 6.6%$402.04
62,950 at 6.61%$402.45
62,950 at 6.62%$402.87
62,950 at 6.63%$403.28
62,950 at 6.64%$403.70
62,950 at 6.65%$404.12
62,950 at 6.66%$404.53
62,950 at 6.67%$404.95
62,950 at 6.68%$405.37
62,950 at 6.69%$405.79
62,950 at 6.7%$406.20
62,950 at 6.71%$406.62
62,950 at 6.72%$407.04
62,950 at 6.73%$407.46
62,950 at 6.74%$407.87
62,950 at 6.75%$408.29
62,950 at 6.76%$408.71
62,950 at 6.77%$409.13
62,950 at 6.78%$409.55
62,950 at 6.79%$409.97
62,950 at 6.8%$410.39
62,950 at 6.81%$410.81
62,950 at 6.82%$411.23
62,950 at 6.83%$411.65
62,950 at 6.84%$412.07
62,950 at 6.85%$412.49
62,950 at 6.86%$412.91
62,950 at 6.87%$413.33
62,950 at 6.88%$413.75
62,950 at 6.89%$414.17
62,950 at 6.9%$414.59
62,950 at 6.91%$415.01
62,950 at 6.92%$415.43
62,950 at 6.93%$415.85
62,950 at 6.94%$416.27
62,950 at 6.95%$416.70
62,950 at 6.96%$417.12
62,950 at 6.97%$417.54
62,950 at 6.98%$417.96
62,950 at 6.99%$418.39
62,950 at 7%$418.81
62,950 at 7.01%$419.23
62,950 at 7.02%$419.65
62,950 at 7.03%$420.08
62,950 at 7.04%$420.50
62,950 at 7.05%$420.92
62,950 at 7.06%$421.35
62,950 at 7.07%$421.77
62,950 at 7.08%$422.20
62,950 at 7.09%$422.62
62,950 at 7.1%$423.04
62,950 at 7.11%$423.47
62,950 at 7.12%$423.89
62,950 at 7.13%$424.32
62,950 at 7.14%$424.74
62,950 at 7.15%$425.17
62,950 at 7.16%$425.59
62,950 at 7.17%$426.02
62,950 at 7.18%$426.45
62,950 at 7.19%$426.87
62,950 at 7.2%$427.30
62,950 at 7.21%$427.72
62,950 at 7.22%$428.15
62,950 at 7.23%$428.58
62,950 at 7.24%$429.00
62,950 at 7.25%$429.43
62,950 at 7.26%$429.86
62,950 at 7.27%$430.28
62,950 at 7.28%$430.71
62,950 at 7.29%$431.14
62,950 at 7.3%$431.57
62,950 at 7.31%$431.99
62,950 at 7.32%$432.42
62,950 at 7.33%$432.85
62,950 at 7.34%$433.28
62,950 at 7.35%$433.71
62,950 at 7.36%$434.14
62,950 at 7.37%$434.57
62,950 at 7.38%$434.99
62,950 at 7.39%$435.42
62,950 at 7.4%$435.85
62,950 at 7.41%$436.28
62,950 at 7.42%$436.71
62,950 at 7.43%$437.14
62,950 at 7.44%$437.57
62,950 at 7.45%$438.00
62,950 at 7.46%$438.43
62,950 at 7.47%$438.86
62,950 at 7.48%$439.29
62,950 at 7.49%$439.72
62,950 at 7.5%$440.16
62,950 at 7.51%$440.59
62,950 at 7.52%$441.02
62,950 at 7.53%$441.45
62,950 at 7.54%$441.88
62,950 at 7.55%$442.31
62,950 at 7.56%$442.74
62,950 at 7.57%$443.18
62,950 at 7.58%$443.61
62,950 at 7.59%$444.04
62,950 at 7.6%$444.47
62,950 at 7.61%$444.91
62,950 at 7.62%$445.34
62,950 at 7.63%$445.77
62,950 at 7.64%$446.21
62,950 at 7.65%$446.64
62,950 at 7.66%$447.07
62,950 at 7.67%$447.51
62,950 at 7.68%$447.94
62,950 at 7.69%$448.37
62,950 at 7.7%$448.81
62,950 at 7.71%$449.24
62,950 at 7.72%$449.68
62,950 at 7.73%$450.11
62,950 at 7.74%$450.55
62,950 at 7.75%$450.98
62,950 at 7.76%$451.42
62,950 at 7.77%$451.85
62,950 at 7.78%$452.29
62,950 at 7.79%$452.72
62,950 at 7.8%$453.16
62,950 at 7.81%$453.59
62,950 at 7.82%$454.03
62,950 at 7.83%$454.47
62,950 at 7.84%$454.90
62,950 at 7.85%$455.34
62,950 at 7.86%$455.78
62,950 at 7.87%$456.21
62,950 at 7.88%$456.65
62,950 at 7.89%$457.09
62,950 at 7.9%$457.52
62,950 at 7.91%$457.96
62,950 at 7.92%$458.40
62,950 at 7.93%$458.84
62,950 at 7.94%$459.27
62,950 at 7.95%$459.71
62,950 at 7.96%$460.15
62,950 at 7.97%$460.59
62,950 at 7.98%$461.03
62,950 at 7.99%$461.47
62,950 at 8%$461.90
More Amounts
What is the down payment for a $62,950 house? How much do you need to put down?
Percent Down Down Payment
1%630
2%1,259
3%1,889
4%2,518
5%3,148
6%3,777
7%4,407
8%5,036
9%5,666
10%6,295
11%6,925
12%7,554
13%8,184
14%8,813
15%9,443
16%10,072
17%10,702
18%11,331
19%11,961
20%12,590
Percent Down Down Payment
21%13,220
22%13,849
23%14,479
24%15,108
25%15,738
26%16,367
27%16,997
28%17,626
29%18,256
30%18,885
31%19,515
32%20,144
33%20,774
34%21,403
35%22,033
36%22,662
37%23,292
38%23,921
39%24,551
40%25,180
Percent Down Down Payment
41%25,810
42%26,439
43%27,069
44%27,698
45%28,328
46%28,957
47%29,587
48%30,216
49%30,846
50%31,475
51%32,105
52%32,734
53%33,364
54%33,993
55%34,623
56%35,252
57%35,882
58%36,511
59%37,141
60%37,770
Percent Down Down Payment
61%38,400
62%39,029
63%39,659
64%40,288
65%40,918
66%41,547
67%42,177
68%42,806
69%43,436
70%44,065
71%44,695
72%45,324
73%45,954
74%46,583
75%47,213
76%47,842
77%48,472
78%49,101
79%49,731
80%50,360
Percent Down Down Payment
81%50,990
82%51,619
83%52,249
84%52,878
85%53,508
86%54,137
87%54,767
88%55,396
89%56,026
90%56,655
91%57,285
92%57,914
93%58,544
94%59,173
95%59,803
96%60,432
97%61,062
98%61,691
99%62,321
100%62,950
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.