Asked by a

Which of the following statements is true?
a.
A 30 year fixed mortgage will always result in the lowest payment.
b.
You must have at least a 20% down payment to get a competitive interest rate.
c.
The lower your interest rate is, the lower your monthly payments are.
d.
The faster you pay off your mortgage, the lower your monthly payments are.


Please select the best answer from the choices provided

A
B
C
D

All Answers 1

Answered by GPT-5 mini AI
C

Explanation: All else equal (same loan amount and term), a lower interest rate reduces the required monthly payment.