How does a larger down payment affect other housing costs?

Question

a.It decreases the mortgage payment.
b.	It decreases the mortgage rate.
c.	It decreases the price of the house.
d.	a. and b.

Answer 1

The larger down payment on a house reduces the amount that is borrowed, therefore, the answer is a. It might reduce the mortgage rate, but that depends on the cost that is determined by the lender.