Down payment: This can range from 5% to 30% of the total price of the house. It’s ideal to have a larger down payment because you’ll get a lower interest rate and accumulate more equity in your home.
Mortgage Payment: Amortization period is the amount of time it takes for your mortgage to be completely paid. The length of your amortization period affects the amount of interest you’ll be paying.
Payment Term: This can range from monthly, semi-monthly, accelerated bi-weekly, or accelerated weekly. Make sure to choose a payment option that you’re most comfortable with.