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The biggest factor in determining the price of a mortgage is: A-The total cost of the home B-the down payment C- the interest rate D- the lender

Kathy Robinson

in Business

1 answer

1 answer

Ralph Lopez on July 10, 2018

The interest rate is the most important factor. To determine the price of a mortgage is different from the determination of the price of housing. A mortgage is a loan, is a debt that is due to the property of the house. The price of the mortgage is its interest rate, in the same way the price of a credit card is the interest that you pay. The principle that you pay on a mortgage is the amount you are paying for the house. Interest is the price paid for the mortgage, for the benefit of owning a home before you've paid for it.

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