These home mortgages differ in their loan terms or their rate status. The advantage of each type of home mortgage depends upon the financial situation of the times. Some home mortgages fare better when interest rates are low. Others rise up to the challenge of high home mortgage rates. Fixed Rate Home Mortgage Fixed rate home mortgages are home mortgages whose interest rates remain set for the duration of the loan term. Another advantage of negative amortization mortgages is that cash flow is more easily controlled. Remember that with an adjustable rate amortization mortgage, interest rates may go lower depending on the market. Natural inflation will allow you to pay back the money you borrowed today at a depreciated value years from now. They do this without having to worry about the change that might occur in fixed rate mortgage interest rates or payments of such. Because the interest of a 30-year fixed rate mortgage is amortized over a longer period, the monthly payments for this are lower than those on 15-year loans. Lower monthly payments on 30-year fixed rate mortgages give consumers an extra resource which they can pour into other worthy investments. Handing out loans to borrowers with poor credit is a risky business and lenders want compensation for the risks they're taking. Bad Credit Mortgage Loan Limits But while rates are indeed high in bad credit mortgage loans, there are also limits to these. Discount points in bad credit mortgage loans are common. Find the key features included in the documents and do a mortgage rate comparison of these with more or less similar products from various other firms. If there is anything at all that confuses you a bit or something that you do not understand while you're doing your mortgage rate comparison, do not hesitate to ask for advice. Lenders today are offering fixed rate mortgages with 15, 20, or 30 year terms. And if that's not enough, lowered home mortgage rates can be achieved through five or seven year balloon payments and a wide variety of adjustable rate mortgages. Adjustable Rate Home Mortgage Rates Home mortgage rates are sure to be affected more if you have an adjustable rate mortgage.