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Explain how the amount of a down payment affects your monthly mortgage payments.

User Lizzett
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1 Answer

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Answer:

The more money you put down, the smaller your principal value becomes. Having a smaller principal value will make your monthly payments smaller.

Step-by-step explanation:

The amount of a down payment you pay will affect your monthly mortgage payment. If you put a larger down payment on your mortgage/loan you will pay less in monthly mortgage payments. If you put a smaller down payment you will end up paying more monthly.

User Matt Whitehead
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