Question

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

Answer 1

Your answer is going to be A.

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.