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In Business / College | 2025-07-08

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.

Asked by fernandoduran2626

Answer (1)

The true statement is that the lower your interest rate, the lower your monthly payments. Other options are inaccurate regarding mortgage payments and down payment requirements. Understanding these concepts is crucial for effective financial planning when purchasing a home. ;

Answered by GinnyAnswer | 2025-07-08

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