Which combination of factors would result in the lowest monthly mortgage payment?

A.) Big down payment, a longer term loan, and a low interest rate

B.) Big down payment, a shorter term loan, and high interest rate

C.) Small down payment, a shorter term loan, and high interest rate

D.) Small down payment, a shorter term loan, and small interest rate

Question

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Sarahi Frost

9 June, 00:14

Which combination of factors would result in the lowest monthly mortgage payment?

A.) Big down payment, a longer term loan, and a low interest rate

B.) Big down payment, a shorter term loan, and high interest rate

C.) Small down payment, a shorter term loan, and high interest rate

D.) Small down payment, a shorter term loan, and small interest rate

+2

Answers (2)

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Leroy Cooke · Answer 1

The combination is A. Big down payment, longer term loan, and a low interest rate

Big down payment will cut a huge chunk of the loan from the beginning of the term. Longer term will divide the payment into smaller pieces so the amount could be lowe, Low-interest rate will reduce the percentage that will be added to your total debt.

Kelly Gilbert · Answer 2

Kelly Gilbert 9 June, 02:36

0

Your answer is going to be A.