With a variable rate mortgage interest rate of less than 0.60% for a full five-year term, ING Direct variable rate mortgages are among the top-sellers. As an added bonus, consumers who buy their variable rate mortgages from ING Direct have the option to convert their variable rate mortgage into a fixed rate mortgage of 3 years or more. Negative Amortization Mortgage: Pros and Cons Payment plans for an amortization mortgage are usually based on adjustable rate payment loans. 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 is probably because a mortgage broker deals with two types of persons - the lender and the client. Resolving mortgage issues between these two is a time-consuming job. This is also perhaps why mortgage brokers charge high for closing fees. A percentage of the closing fee you pay on a mortgage goes to the mortgage broker's personal funds. Take over mortgages experienced an all time high in the 1970s and 1980s when interest rates soared. Existing mortgages had interest rates at 5 percent to 7 percent but when the rates rose, the original percentage rose also, forcing a pay out of 10 percent to 15 percent in interest on deposits. These forced buyers to use take over mortgages so they could assume loans with lower rates. Not only does shopping allow you to get the all the information you need to do a complete mortgage rate comparison but also, it lets you have an idea on what services other firms are offering. When you shop around to do a mortgage rate comparison, there are a few things you need to keep in mind. First, to get accurate information for your mortgage rate comparisons, see that any investment firm you are dealing is authorized. That sounds too good to be true, but that's what reverse mortgages do. A reverse mortgage is a loan that you make where you do not have to pay back anything for as long as you still possess that property you have purchased. Reverse mortgages provide you with cash which you can use for other investments.