Question

The biggest factor in determining the price of a mortgage is:

Answer 1

The interest rate is the biggest factor.
Determining the price of a mortgage is different from determining the price of the home. A mortgage is a loan, it is a debt that is owed for ownership of the house. The price of the mortgage is its interest rate, the same way the price of a credit card is the interest that you pay on it.
The principle that you pay on a mortgage is the amount that you are paying for the house. The interest is the price you pay for the mortgage, for the benefit of owning the home before having paid for it.

Answer 2

Answer: The total cost of the home
Explanation:The down payment is the first payment in buying the house, and while it is included in the mortgage, it is a fraction of the total cost. The interest rate influences how much the buyer pays the mortgage off at a time.The lender helps determine the cost of the property, but there are limitations. For example, you can't sell a mansion for less than what it's worth, but you also wouldn't oversell a mobile home.