Question

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

ABig down payment, a shorter term loan, and high interest rate
BBig down payment, a longer term loan, and low interest rate
CSmall down payment, a shorter term loan, and small interest rate
DSmall down payment, a shorter term loan, and high interest rate

Answer 1

The combination of factors that would result in the lowest monthly mortgage payment is "Small down payment, a shorter term loan, and small interest rate". This has the lowest monthly mortgage since if we base our calculations on the relationship of the principal amount and the monthly payments, the lowest rate would be with low-interest rate, small down payment and short term loan.