Which variable does NOT affect the mortgage payment?

The variable that does not affect the mortgage payment is investment analysis. Mortgage payments are primarily influenced by factors such as the term of the loan, the amount borrowed, and the frequency of payment.

The term of the loan—usually ranging from 15 to 30 years—directly impacts the payment amount because a longer term generally results in lower monthly payments due to spreading the principal and interest over more periods. The amount borrowed is fundamental since the mortgage payment is calculated based on the principal needed to be repaid, as well as the interest charged by the lender. Lastly, the frequency of payment, such as whether payments are made monthly, bi-weekly, or weekly, also influences the amount due in each installment.

Investment analysis, while important in evaluating real estate as an investment opportunity, does not directly play a role in calculating the specific mortgage payment. It focuses more on the performance and profitability of an investment rather than the mechanics of loan repayment.