Question

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

Explanation:

To determine the total cost of a mortgage, we analyze each option:

• Option A: Mortgage tax is not a standard part of mortgage total cost, and "monthly interest" is part of monthly payments but not the only component.
• Option B: "Starting deposits" (likely down payment) is part of the loan but not a cost; closing costs are a cost, but this option is incorrect due to "starting deposits".
• Option C: Closing costs (fees paid at closing) and monthly loan payments (including principal and interest, which contribute to the total amount paid over the mortgage term) are both part of the total cost of a mortgage.

Answer:

C. closing costs, and monthly loan payments