Respuesta :

The two main factors that contribute to how much interest is paid are the time period and credit score of the person taking the mortgage.

The other factors that the mortgage loan depends on are :

  • The location of the property.
  • Whether the price of the property is high or low.
  • The down payment was paid for the property.
  • The current interest rates that are already prevailing in the market.
  • The time period of the mortgage.
  • The type of loan you require.

When searching for a lender to get a mortgage from, most borrowers will choose the lender that offers the lowest mortgage interest rate. The lower the interest rate the less expensive will be the monthly payment. So over the period, the borrower will be able to save money.

Learn more about mortgage loans here:

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