The important thing is you get your money and that's that. Speaking of lenders, which lending companies are offering bad credit mortgage loans among their list of loan programs? Several bad credit mortgage loans are being offered by some alternative loan companies. When you choose one company, make sure that you know what is required of you when you ask for a bad credit mortgage loan. For instance, your balloon payment mortgage is $20,000 with a monthly interest-only payment set up for ten years. When your balloon payment mortgage term ends, you still have to pay for the $20,000 principal amount. There are a couple of accepted institutional loan products that have balloon payment mortgages. Consumers of fixed rate mortgages are faced with having to choose between a 15-year fixed rate mortgage or a 30-year fixed rate mortgage. Some prefer 15-year fixed rate mortgages because of the shorter duration. Other consumers choose 30-year fixed rate mortgages because the payments are considerably lower than the former. The amortization period for this type of fixed rate home mortgage is longer and the monthly payments are lower. One drawback, however of this home mortgage is its high interest bill and slow equity build-up. 15-year fixed rate home mortgages attract borrowers because of its relatively shorter amortization period. With an 80 20 mortgage loan, the home buyer actually takes out two loans. The first part of an 80 20 mortgage loan is for 80 percent of the purchase price. At the second part of an 80 20 mortgage loan is for 20 percent of the home's price. The closing costs of an 80 20 mortgage loan are something that the buyer is expected to come up. The market makers of bank rate mortgages do not have the investors alone as their client. The other half of the coin is the home buyers. These two clients of bank rate mortgage markets take opposing sides when it comes to investments. The investors want the highest possible return on their investments.