$87,000 Mortgage for 30 Years

What is the monthly payment of a 87,000 dollar loan?
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Loan Tables for a $87,000 Mortgage Loan for 30 Years
See the monthly payment for a thirty year, 87k loan by interest rate. What's the monthly payment? What are the costs? Can I afford a $87,000 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
87,000 at 2.01%$322.00
87,000 at 2.02%$322.44
87,000 at 2.03%$322.88
87,000 at 2.04%$323.31
87,000 at 2.05%$323.75
87,000 at 2.06%$324.19
87,000 at 2.07%$324.62
87,000 at 2.08%$325.06
87,000 at 2.09%$325.50
87,000 at 2.1%$325.94
87,000 at 2.11%$326.38
87,000 at 2.12%$326.81
87,000 at 2.13%$327.25
87,000 at 2.14%$327.69
87,000 at 2.15%$328.13
87,000 at 2.16%$328.57
87,000 at 2.17%$329.02
87,000 at 2.18%$329.46
87,000 at 2.19%$329.90
87,000 at 2.2%$330.34
87,000 at 2.21%$330.78
87,000 at 2.22%$331.22
87,000 at 2.23%$331.67
87,000 at 2.24%$332.11
87,000 at 2.25%$332.55
87,000 at 2.26%$333.00
87,000 at 2.27%$333.44
87,000 at 2.28%$333.89
87,000 at 2.29%$334.33
87,000 at 2.3%$334.78
87,000 at 2.31%$335.22
87,000 at 2.32%$335.67
87,000 at 2.33%$336.12
87,000 at 2.34%$336.56
87,000 at 2.35%$337.01
87,000 at 2.36%$337.46
87,000 at 2.37%$337.90
87,000 at 2.38%$338.35
87,000 at 2.39%$338.80
87,000 at 2.4%$339.25
87,000 at 2.41%$339.70
87,000 at 2.42%$340.15
87,000 at 2.43%$340.60
87,000 at 2.44%$341.05
87,000 at 2.45%$341.50
87,000 at 2.46%$341.95
87,000 at 2.47%$342.40
87,000 at 2.48%$342.85
87,000 at 2.49%$343.30
87,000 at 2.5%$343.76
87,000 at 2.51%$344.21
87,000 at 2.52%$344.66
87,000 at 2.53%$345.11
87,000 at 2.54%$345.57
87,000 at 2.55%$346.02
87,000 at 2.56%$346.48
87,000 at 2.57%$346.93
87,000 at 2.58%$347.38
87,000 at 2.59%$347.84
87,000 at 2.6%$348.30
87,000 at 2.61%$348.75
87,000 at 2.62%$349.21
87,000 at 2.63%$349.66
87,000 at 2.64%$350.12
87,000 at 2.65%$350.58
87,000 at 2.66%$351.04
87,000 at 2.67%$351.49
87,000 at 2.68%$351.95
87,000 at 2.69%$352.41
87,000 at 2.7%$352.87
87,000 at 2.71%$353.33
87,000 at 2.72%$353.79
87,000 at 2.73%$354.25
87,000 at 2.74%$354.71
87,000 at 2.75%$355.17
87,000 at 2.76%$355.63
87,000 at 2.77%$356.09
87,000 at 2.78%$356.55
87,000 at 2.79%$357.02
87,000 at 2.8%$357.48
87,000 at 2.81%$357.94
87,000 at 2.82%$358.40
87,000 at 2.83%$358.87
87,000 at 2.84%$359.33
87,000 at 2.85%$359.79
87,000 at 2.86%$360.26
87,000 at 2.87%$360.72
87,000 at 2.88%$361.19
87,000 at 2.89%$361.65
87,000 at 2.9%$362.12
87,000 at 2.91%$362.59
87,000 at 2.92%$363.05
87,000 at 2.93%$363.52
87,000 at 2.94%$363.99
87,000 at 2.95%$364.45
87,000 at 2.96%$364.92
87,000 at 2.97%$365.39
87,000 at 2.98%$365.86
87,000 at 2.99%$366.33
87,000 at 3%$366.80
87,000 at 3.01%$367.26
87,000 at 3.02%$367.73
87,000 at 3.03%$368.20
87,000 at 3.04%$368.68
87,000 at 3.05%$369.15
87,000 at 3.06%$369.62
87,000 at 3.07%$370.09
87,000 at 3.08%$370.56
87,000 at 3.09%$371.03
87,000 at 3.1%$371.50
87,000 at 3.11%$371.98
87,000 at 3.12%$372.45
87,000 at 3.13%$372.92
87,000 at 3.14%$373.40
87,000 at 3.15%$373.87
87,000 at 3.16%$374.35
87,000 at 3.17%$374.82
87,000 at 3.18%$375.30
87,000 at 3.19%$375.77
87,000 at 3.2%$376.25
87,000 at 3.21%$376.72
87,000 at 3.22%$377.20
87,000 at 3.23%$377.68
87,000 at 3.24%$378.15
87,000 at 3.25%$378.63
87,000 at 3.26%$379.11
87,000 at 3.27%$379.59
87,000 at 3.28%$380.06
87,000 at 3.29%$380.54
87,000 at 3.3%$381.02
87,000 at 3.31%$381.50
87,000 at 3.32%$381.98
87,000 at 3.33%$382.46
87,000 at 3.34%$382.94
87,000 at 3.35%$383.42
87,000 at 3.36%$383.90
87,000 at 3.37%$384.38
87,000 at 3.38%$384.86
87,000 at 3.39%$385.35
87,000 at 3.4%$385.83
87,000 at 3.41%$386.31
87,000 at 3.42%$386.79
87,000 at 3.43%$387.28
87,000 at 3.44%$387.76
87,000 at 3.45%$388.24
87,000 at 3.46%$388.73
87,000 at 3.47%$389.21
87,000 at 3.48%$389.70
87,000 at 3.49%$390.18
87,000 at 3.5%$390.67
Interest Rate 30 Year
87,000 at 3.51%$391.15
87,000 at 3.52%$391.64
87,000 at 3.53%$392.13
87,000 at 3.54%$392.61
87,000 at 3.55%$393.10
87,000 at 3.56%$393.59
87,000 at 3.57%$394.08
87,000 at 3.58%$394.56
87,000 at 3.59%$395.05
87,000 at 3.6%$395.54
87,000 at 3.61%$396.03
87,000 at 3.62%$396.52
87,000 at 3.63%$397.01
87,000 at 3.64%$397.50
87,000 at 3.65%$397.99
87,000 at 3.66%$398.48
87,000 at 3.67%$398.97
87,000 at 3.68%$399.46
87,000 at 3.69%$399.95
87,000 at 3.7%$400.45
87,000 at 3.71%$400.94
87,000 at 3.72%$401.43
87,000 at 3.73%$401.92
87,000 at 3.74%$402.42
87,000 at 3.75%$402.91
87,000 at 3.76%$403.40
87,000 at 3.77%$403.90
87,000 at 3.78%$404.39
87,000 at 3.79%$404.89
87,000 at 3.8%$405.38
87,000 at 3.81%$405.88
87,000 at 3.82%$406.37
87,000 at 3.83%$406.87
87,000 at 3.84%$407.37
87,000 at 3.85%$407.86
87,000 at 3.86%$408.36
87,000 at 3.87%$408.86
87,000 at 3.88%$409.36
87,000 at 3.89%$409.85
87,000 at 3.9%$410.35
87,000 at 3.91%$410.85
87,000 at 3.92%$411.35
87,000 at 3.93%$411.85
87,000 at 3.94%$412.35
87,000 at 3.95%$412.85
87,000 at 3.96%$413.35
87,000 at 3.97%$413.85
87,000 at 3.98%$414.35
87,000 at 3.99%$414.85
87,000 at 4%$415.35
87,000 at 4.01%$415.85
87,000 at 4.02%$416.36
87,000 at 4.03%$416.86
87,000 at 4.04%$417.36
87,000 at 4.05%$417.86
87,000 at 4.06%$418.37
87,000 at 4.07%$418.87
87,000 at 4.08%$419.37
87,000 at 4.09%$419.88
87,000 at 4.1%$420.38
87,000 at 4.11%$420.89
87,000 at 4.12%$421.39
87,000 at 4.13%$421.90
87,000 at 4.14%$422.40
87,000 at 4.15%$422.91
87,000 at 4.16%$423.42
87,000 at 4.17%$423.92
87,000 at 4.18%$424.43
87,000 at 4.19%$424.94
87,000 at 4.2%$425.44
87,000 at 4.21%$425.95
87,000 at 4.22%$426.46
87,000 at 4.23%$426.97
87,000 at 4.24%$427.48
87,000 at 4.25%$427.99
87,000 at 4.26%$428.50
87,000 at 4.27%$429.01
87,000 at 4.28%$429.52
87,000 at 4.29%$430.03
87,000 at 4.3%$430.54
87,000 at 4.31%$431.05
87,000 at 4.32%$431.56
87,000 at 4.33%$432.07
87,000 at 4.34%$432.58
87,000 at 4.35%$433.10
87,000 at 4.36%$433.61
87,000 at 4.37%$434.12
87,000 at 4.38%$434.63
87,000 at 4.39%$435.15
87,000 at 4.4%$435.66
87,000 at 4.41%$436.18
87,000 at 4.42%$436.69
87,000 at 4.43%$437.21
87,000 at 4.44%$437.72
87,000 at 4.45%$438.24
87,000 at 4.46%$438.75
87,000 at 4.47%$439.27
87,000 at 4.48%$439.78
87,000 at 4.49%$440.30
87,000 at 4.5%$440.82
87,000 at 4.51%$441.33
87,000 at 4.52%$441.85
87,000 at 4.53%$442.37
87,000 at 4.54%$442.89
87,000 at 4.55%$443.40
87,000 at 4.56%$443.92
87,000 at 4.57%$444.44
87,000 at 4.58%$444.96
87,000 at 4.59%$445.48
87,000 at 4.6%$446.00
87,000 at 4.61%$446.52
87,000 at 4.62%$447.04
87,000 at 4.63%$447.56
87,000 at 4.64%$448.08
87,000 at 4.65%$448.60
87,000 at 4.66%$449.13
87,000 at 4.67%$449.65
87,000 at 4.68%$450.17
87,000 at 4.69%$450.69
87,000 at 4.7%$451.21
87,000 at 4.71%$451.74
87,000 at 4.72%$452.26
87,000 at 4.73%$452.78
87,000 at 4.74%$453.31
87,000 at 4.75%$453.83
87,000 at 4.76%$454.36
87,000 at 4.77%$454.88
87,000 at 4.78%$455.41
87,000 at 4.79%$455.93
87,000 at 4.8%$456.46
87,000 at 4.81%$456.98
87,000 at 4.82%$457.51
87,000 at 4.83%$458.04
87,000 at 4.84%$458.56
87,000 at 4.85%$459.09
87,000 at 4.86%$459.62
87,000 at 4.87%$460.15
87,000 at 4.88%$460.68
87,000 at 4.89%$461.20
87,000 at 4.9%$461.73
87,000 at 4.91%$462.26
87,000 at 4.92%$462.79
87,000 at 4.93%$463.32
87,000 at 4.94%$463.85
87,000 at 4.95%$464.38
87,000 at 4.96%$464.91
87,000 at 4.97%$465.44
87,000 at 4.98%$465.97
87,000 at 4.99%$466.50
87,000 at 5%$467.03
Interest Rate 30 Year
87,000 at 5.01%$467.57
87,000 at 5.02%$468.10
87,000 at 5.03%$468.63
87,000 at 5.04%$469.16
87,000 at 5.05%$469.70
87,000 at 5.06%$470.23
87,000 at 5.07%$470.76
87,000 at 5.08%$471.30
87,000 at 5.09%$471.83
87,000 at 5.1%$472.37
87,000 at 5.11%$472.90
87,000 at 5.12%$473.44
87,000 at 5.13%$473.97
87,000 at 5.14%$474.51
87,000 at 5.15%$475.04
87,000 at 5.16%$475.58
87,000 at 5.17%$476.12
87,000 at 5.18%$476.65
87,000 at 5.19%$477.19
87,000 at 5.2%$477.73
87,000 at 5.21%$478.26
87,000 at 5.22%$478.80
87,000 at 5.23%$479.34
87,000 at 5.24%$479.88
87,000 at 5.25%$480.42
87,000 at 5.26%$480.96
87,000 at 5.27%$481.50
87,000 at 5.28%$482.04
87,000 at 5.29%$482.57
87,000 at 5.3%$483.12
87,000 at 5.31%$483.66
87,000 at 5.32%$484.20
87,000 at 5.33%$484.74
87,000 at 5.34%$485.28
87,000 at 5.35%$485.82
87,000 at 5.36%$486.36
87,000 at 5.37%$486.90
87,000 at 5.38%$487.45
87,000 at 5.39%$487.99
87,000 at 5.4%$488.53
87,000 at 5.41%$489.08
87,000 at 5.42%$489.62
87,000 at 5.43%$490.16
87,000 at 5.44%$490.71
87,000 at 5.45%$491.25
87,000 at 5.46%$491.80
87,000 at 5.47%$492.34
87,000 at 5.48%$492.89
87,000 at 5.49%$493.43
87,000 at 5.5%$493.98
87,000 at 5.51%$494.52
87,000 at 5.52%$495.07
87,000 at 5.53%$495.62
87,000 at 5.54%$496.16
87,000 at 5.55%$496.71
87,000 at 5.56%$497.26
87,000 at 5.57%$497.80
87,000 at 5.58%$498.35
87,000 at 5.59%$498.90
87,000 at 5.6%$499.45
87,000 at 5.61%$500.00
87,000 at 5.62%$500.55
87,000 at 5.63%$501.10
87,000 at 5.64%$501.65
87,000 at 5.65%$502.20
87,000 at 5.66%$502.75
87,000 at 5.67%$503.30
87,000 at 5.68%$503.85
87,000 at 5.69%$504.40
87,000 at 5.7%$504.95
87,000 at 5.71%$505.50
87,000 at 5.72%$506.05
87,000 at 5.73%$506.60
87,000 at 5.74%$507.16
87,000 at 5.75%$507.71
87,000 at 5.76%$508.26
87,000 at 5.77%$508.81
87,000 at 5.78%$509.37
87,000 at 5.79%$509.92
87,000 at 5.8%$510.48
87,000 at 5.81%$511.03
87,000 at 5.82%$511.58
87,000 at 5.83%$512.14
87,000 at 5.84%$512.69
87,000 at 5.85%$513.25
87,000 at 5.86%$513.80
87,000 at 5.87%$514.36
87,000 at 5.88%$514.92
87,000 at 5.89%$515.47
87,000 at 5.9%$516.03
87,000 at 5.91%$516.59
87,000 at 5.92%$517.14
87,000 at 5.93%$517.70
87,000 at 5.94%$518.26
87,000 at 5.95%$518.82
87,000 at 5.96%$519.37
87,000 at 5.97%$519.93
87,000 at 5.98%$520.49
87,000 at 5.99%$521.05
87,000 at 6%$521.61
87,000 at 6.01%$522.17
87,000 at 6.02%$522.73
87,000 at 6.03%$523.29
87,000 at 6.04%$523.85
87,000 at 6.05%$524.41
87,000 at 6.06%$524.97
87,000 at 6.07%$525.53
87,000 at 6.08%$526.09
87,000 at 6.09%$526.65
87,000 at 6.1%$527.22
87,000 at 6.11%$527.78
87,000 at 6.12%$528.34
87,000 at 6.13%$528.90
87,000 at 6.14%$529.47
87,000 at 6.15%$530.03
87,000 at 6.16%$530.59
87,000 at 6.17%$531.16
87,000 at 6.18%$531.72
87,000 at 6.19%$532.28
87,000 at 6.2%$532.85
87,000 at 6.21%$533.41
87,000 at 6.22%$533.98
87,000 at 6.23%$534.54
87,000 at 6.24%$535.11
87,000 at 6.25%$535.67
87,000 at 6.26%$536.24
87,000 at 6.27%$536.81
87,000 at 6.28%$537.37
87,000 at 6.29%$537.94
87,000 at 6.3%$538.51
87,000 at 6.31%$539.07
87,000 at 6.32%$539.64
87,000 at 6.33%$540.21
87,000 at 6.34%$540.78
87,000 at 6.35%$541.35
87,000 at 6.36%$541.91
87,000 at 6.37%$542.48
87,000 at 6.38%$543.05
87,000 at 6.39%$543.62
87,000 at 6.4%$544.19
87,000 at 6.41%$544.76
87,000 at 6.42%$545.33
87,000 at 6.43%$545.90
87,000 at 6.44%$546.47
87,000 at 6.45%$547.04
87,000 at 6.46%$547.61
87,000 at 6.47%$548.18
87,000 at 6.48%$548.76
87,000 at 6.49%$549.33
87,000 at 6.5%$549.90
Interest Rate 30 Year
87,000 at 6.51%$550.47
87,000 at 6.52%$551.04
87,000 at 6.53%$551.62
87,000 at 6.54%$552.19
87,000 at 6.55%$552.76
87,000 at 6.56%$553.34
87,000 at 6.57%$553.91
87,000 at 6.58%$554.48
87,000 at 6.59%$555.06
87,000 at 6.6%$555.63
87,000 at 6.61%$556.21
87,000 at 6.62%$556.78
87,000 at 6.63%$557.36
87,000 at 6.64%$557.93
87,000 at 6.65%$558.51
87,000 at 6.66%$559.09
87,000 at 6.67%$559.66
87,000 at 6.68%$560.24
87,000 at 6.69%$560.81
87,000 at 6.7%$561.39
87,000 at 6.71%$561.97
87,000 at 6.72%$562.55
87,000 at 6.73%$563.12
87,000 at 6.74%$563.70
87,000 at 6.75%$564.28
87,000 at 6.76%$564.86
87,000 at 6.77%$565.44
87,000 at 6.78%$566.02
87,000 at 6.79%$566.60
87,000 at 6.8%$567.17
87,000 at 6.81%$567.75
87,000 at 6.82%$568.33
87,000 at 6.83%$568.91
87,000 at 6.84%$569.49
87,000 at 6.85%$570.08
87,000 at 6.86%$570.66
87,000 at 6.87%$571.24
87,000 at 6.88%$571.82
87,000 at 6.89%$572.40
87,000 at 6.9%$572.98
87,000 at 6.91%$573.56
87,000 at 6.92%$574.15
87,000 at 6.93%$574.73
87,000 at 6.94%$575.31
87,000 at 6.95%$575.89
87,000 at 6.96%$576.48
87,000 at 6.97%$577.06
87,000 at 6.98%$577.65
87,000 at 6.99%$578.23
87,000 at 7%$578.81
87,000 at 7.01%$579.40
87,000 at 7.02%$579.98
87,000 at 7.03%$580.57
87,000 at 7.04%$581.15
87,000 at 7.05%$581.74
87,000 at 7.06%$582.32
87,000 at 7.07%$582.91
87,000 at 7.08%$583.50
87,000 at 7.09%$584.08
87,000 at 7.1%$584.67
87,000 at 7.11%$585.25
87,000 at 7.12%$585.84
87,000 at 7.13%$586.43
87,000 at 7.14%$587.02
87,000 at 7.15%$587.60
87,000 at 7.16%$588.19
87,000 at 7.17%$588.78
87,000 at 7.18%$589.37
87,000 at 7.19%$589.96
87,000 at 7.2%$590.55
87,000 at 7.21%$591.13
87,000 at 7.22%$591.72
87,000 at 7.23%$592.31
87,000 at 7.24%$592.90
87,000 at 7.25%$593.49
87,000 at 7.26%$594.08
87,000 at 7.27%$594.67
87,000 at 7.28%$595.26
87,000 at 7.29%$595.86
87,000 at 7.3%$596.45
87,000 at 7.31%$597.04
87,000 at 7.32%$597.63
87,000 at 7.33%$598.22
87,000 at 7.34%$598.81
87,000 at 7.35%$599.41
87,000 at 7.36%$600.00
87,000 at 7.37%$600.59
87,000 at 7.38%$601.18
87,000 at 7.39%$601.78
87,000 at 7.4%$602.37
87,000 at 7.41%$602.96
87,000 at 7.42%$603.56
87,000 at 7.43%$604.15
87,000 at 7.44%$604.75
87,000 at 7.45%$605.34
87,000 at 7.46%$605.94
87,000 at 7.47%$606.53
87,000 at 7.48%$607.13
87,000 at 7.49%$607.72
87,000 at 7.5%$608.32
87,000 at 7.51%$608.91
87,000 at 7.52%$609.51
87,000 at 7.53%$610.10
87,000 at 7.54%$610.70
87,000 at 7.55%$611.30
87,000 at 7.56%$611.90
87,000 at 7.57%$612.49
87,000 at 7.58%$613.09
87,000 at 7.59%$613.69
87,000 at 7.6%$614.29
87,000 at 7.61%$614.88
87,000 at 7.62%$615.48
87,000 at 7.63%$616.08
87,000 at 7.64%$616.68
87,000 at 7.65%$617.28
87,000 at 7.66%$617.88
87,000 at 7.67%$618.48
87,000 at 7.68%$619.08
87,000 at 7.69%$619.68
87,000 at 7.7%$620.28
87,000 at 7.71%$620.88
87,000 at 7.72%$621.48
87,000 at 7.73%$622.08
87,000 at 7.74%$622.68
87,000 at 7.75%$623.28
87,000 at 7.76%$623.88
87,000 at 7.77%$624.48
87,000 at 7.78%$625.08
87,000 at 7.79%$625.69
87,000 at 7.8%$626.29
87,000 at 7.81%$626.89
87,000 at 7.82%$627.49
87,000 at 7.83%$628.10
87,000 at 7.84%$628.70
87,000 at 7.85%$629.30
87,000 at 7.86%$629.90
87,000 at 7.87%$630.51
87,000 at 7.88%$631.11
87,000 at 7.89%$631.72
87,000 at 7.9%$632.32
87,000 at 7.91%$632.93
87,000 at 7.92%$633.53
87,000 at 7.93%$634.13
87,000 at 7.94%$634.74
87,000 at 7.95%$635.35
87,000 at 7.96%$635.95
87,000 at 7.97%$636.56
87,000 at 7.98%$637.16
87,000 at 7.99%$637.77
87,000 at 8%$638.38
More Amounts
What is the down payment for a $87,000 house? How much do you need to put down?
Percent Down Down Payment
1%870
2%1,740
3%2,610
4%3,480
5%4,350
6%5,220
7%6,090
8%6,960
9%7,830
10%8,700
11%9,570
12%10,440
13%11,310
14%12,180
15%13,050
16%13,920
17%14,790
18%15,660
19%16,530
20%17,400
Percent Down Down Payment
21%18,270
22%19,140
23%20,010
24%20,880
25%21,750
26%22,620
27%23,490
28%24,360
29%25,230
30%26,100
31%26,970
32%27,840
33%28,710
34%29,580
35%30,450
36%31,320
37%32,190
38%33,060
39%33,930
40%34,800
Percent Down Down Payment
41%35,670
42%36,540
43%37,410
44%38,280
45%39,150
46%40,020
47%40,890
48%41,760
49%42,630
50%43,500
51%44,370
52%45,240
53%46,110
54%46,980
55%47,850
56%48,720
57%49,590
58%50,460
59%51,330
60%52,200
Percent Down Down Payment
61%53,070
62%53,940
63%54,810
64%55,680
65%56,550
66%57,420
67%58,290
68%59,160
69%60,030
70%60,900
71%61,770
72%62,640
73%63,510
74%64,380
75%65,250
76%66,120
77%66,990
78%67,860
79%68,730
80%69,600
Percent Down Down Payment
81%70,470
82%71,340
83%72,210
84%73,080
85%73,950
86%74,820
87%75,690
88%76,560
89%77,430
90%78,300
91%79,170
92%80,040
93%80,910
94%81,780
95%82,650
96%83,520
97%84,390
98%85,260
99%86,130
100%87,000
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.