Question

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

Answer 1

The biggest factor in determining the price of a mortgage is the total cost of the home.

Option D is correct.

Answer 2

Option B i.e The interest rate is the right and correct answer.

Though the price of mortgage is determined by various factors but the interest rate is the biggest factor. It has an important impact on the overall long-term cost of purchasing a home through financing. The mortgage interest rate determine borrower and lender to purchase or mortgage the property.