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

Orion Solis

History

28 March, 16:28

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

+5

Answers (2)

Know the Answer?

Chase Kim · Answer 1

Chase Kim 28 March, 16:29

0

Your answer is going to be A.

Valerie Daniels · Answer 2

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.