What are the characteristics of a mortgage that affect the interest rates, and the characteristics that affect the loan terms? 

Mortgage interest rates & loan terms are affected by a variety of factors. Some of the characteristics that affect mortgage interest rates include credit score, loan-to-value ratio (LTV), and the type of mortgage being sought. Generally speaking, borrowers with higher credit scores tend to receive more favorable interest rates than those with lower scores due to the perceived risk associated with them.

Additionally, lenders also take into account other variables such as LTV – which represents how much of a home’s value is being borrowed against – when determining mortgage interest rates as this can be used to gauge underlying risk levels in each case.

As for loan terms, there are several considerations such as repayment period (i.e., 15 vs 30 year mortgages), amount being borrowed etc., all of which can have an impact on overall costs/benefits for each particular borrower. Furthermore, different types of mortgages may also provide varying options in regards to down payments & closing costs etc.

In conclusion, both mortgage interest rates & loan terms are affected by multiple factors such as credit score & LTV along with other considerations like repayment periods/amounts being borrowed etc.; making it important for potential borrowers to thoroughly evaluate their individual circumstances before deciding on any particular option going forward.