A consumer with a $250,000 30-year mortgage and a 5.50% interest rate paying $1,420/month, wanting to lower their monthly payment, gets a new 30-year mortgage for $255,000, pays off the existing mortgage and has $5,000 for closing costs and tax and insurance escrows.
Toro (company) The Toro Company is an American manufacturer of turf maintenance equipment (lawn mowers), snow removal equipment (snow blowers) and water-saving irrigation system supplies for commercial and residential gardens, public parks, golf courses, sports fields, and agricultural fields.
Historical Examples. 1  The rivalry of these notable contemporaries lifted the toro once more to a level of absorbing national interest.  2 It's a fact, said toro, dropping the towel and feeling for a cigarette. 3  At this moment they came within range of the Spanish flagship, the toro, of ten guns and 100 men.