Should a home buyer always pay the smallest down payment that will be accepted? Explain. Choose the correct answer below. A. Yes, because paying the smallest down payment for a mortgage will save the buyer money at the moment. B. Yes, because paying the smallest down payment for a mortgage will reduce both the buyer's principal amount and the added interest over time. C. No, because paying a larger down payment for a mortgage will reduce both the buyer's principal amount and the added interest over time. D. No, because paying a larger down payment for a mortgage will lead to a shorter term of the mortgage.
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No, because paying a larger down payment for a mortgage will reduce both the buyer's principal amount and the added interest over time. This is because the larger the down payment, the smaller the loan amount will be. Consequently, the interest paid over the life Show more…
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