With adjustable-rate mortgage payments, there is little chance of you knowing what your future monthly payment would be. Some types of adjustable-rate mortgage payments have limits to the interest-rate increase. When an adjustable-rate mortgage reaches a certain percentage, the interest rate will no longer increase for the duration of that period. 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. " Second mortgage loan companies may charge you in varying number of points so if it might be helpful if you do a comparison first. Second Mortgage Loan Rates Second mortgage loans have different payments plans. Most second mortgage loans have a fixed rate payment included in their payment plans. Adjustable rate amortization mortgages are loans where the amount you pay depends on the rise or fall of interest rates. Some types of adjustable rate amortization mortgages offer payment caps than interest rate caps. This basically limits the increase amount of your monthly payment on your amortization mortgage and makes your loan negatively amortized. If you're planning to keep your home for only a short period of time, then an adjustable rate mortgage might be the best choice for you. Adjustable rate home mortgage rates are significantly lower than fixed rates, especially during the initial years of the loan term. Lower adjustable rate home mortgage rates means lower monthly payments, making it easy for people to qualify for a loan. Interest-only mortgage payment schedules are also offered in fixed rate mortgages as well. Interest-only mortgages have also gone mainstream so virtually anyone can borrow money with this type of loan. Temporary Payment Periods The payment periods for interest-only mortgages almost never run for the entire term of the loan.