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.
Founded as the Toro Motor Company in 1914 to build tractor engines for The Bull Tractor Company, Toro manufactures and sells turf and landscape maintenance equipment and precision irrigation systems for use by landscape contractors, golf course superintendents, sports fields and grounds managers, as well as individual consumers.