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. The type of mortgage, credit score and loan-to-value (LTV), are all factors which affect the interest rate on a mortgage. Credit scores are a good indicator of interest rate rates. Higher credit scores will typically receive lower interest rates.

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.

In terms of loan conditions, several factors are taken into consideration, such as the length of repayment (i.e. 15-year mortgages versus 30-year mortgages), and amount borrowed. This can all have an effect on costs/benefits. 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.Potential borrowers should carefully evaluate their personal circumstances before making any decisions.