Question

Which amounts form part of the total cost of a mortgage?. . . A.monthly interest, down payment, and mortgage tax. . B.closing cost, starting deposits, and down payment. . C.closing costs, down payment, and monthly loan payments

Answer 1

The amounts form part of the total cost of a mortgage are closing costs, down payment, and monthly loan payments. The answer would be letter C. The other choices such as letters A and B are not part of the total cost of a mortgage.

Answer 2

The correct answer is:

C.closing costs, down payment, and monthly loan payments

Step-by-step explanation:

Closing costs are a percentage of the purchase price of the home. They factor in to the total cost of the mortgage.

A down payment is a percentage of the purchase price of the home that you pay up front. This factors in to the total cost of the mortgage.

Monthly payments made on the loan also factor in to the total cost of the mortgage.