# ASAP HELP what effect the interest rate has on your monthly mortgage payment.

ASAP HELP what effect the interest rate has on your monthly mortgage payment.

## This Post Has 3 Comments

1. merunikitty1226 says:

Down payment

In general, a larger down payment means a lower interest rate, because lenders see a lower level of risk when you have more stake in the property. ... Mortgage insurance, which protects the lender in the event a borrower stops paying their loan, adds to the overall cost of your monthly mortgage loan payment.

Step-by-step explanation: