select the correct answer. which amounts form part of the total cost of a mortgage? a. monthly interest, and…

select the correct answer. which amounts form part of the total cost of a mortgage? a. monthly interest, and mortgage tax b. closing cost, and starting deposits c. closing costs, and monthly loan payments

select the correct answer. which amounts form part of the total cost of a mortgage? a. monthly interest, and mortgage tax b. closing cost, and starting deposits c. closing costs, and monthly loan payments

Answer

Answer:

C. closing costs, and monthly loan payments

Explanation:

Step1: Analyze option A

Monthly interest is part - but mortgage tax is not a standard part of total mortgage cost.

Step2: Analyze option B

Starting deposits are not part of the cost of a mortgage. They are an upfront payment.

Step3: Analyze option C

Closing costs are fees associated with finalizing the mortgage, and monthly loan payments (which include principal and interest) are part of the total cost over the life of the mortgage.