From what type of services a loan firm offers to the cost and features of a product, FSA Mortgage Rate Comparison helps make sure that the consumer gets what is due him. The FSA website also includes mortgage rate comparison tables to help consumers match up products one firm to various products from other firms which are more or less similar. The same goes for closing costs, which are fees that the lender must pay. Higher closing costs paid to them means lower mortgage rates. However, if you do not wish to pay for all the closing costs upfront, the lender will raise your mortgage rate in order to cover it. The concept is pretty simple. Lenders are usually willing to lower mortgage rates as long as more money is paid upfront. Below are some questions you need to consider: - Is there a possibility that my income will rise up enough to cover higher adjustable-rate mortgage payments should interest rates go up? - Is there a chance that I might take on other sizable debts like a loan for a car or school tuition in the near future? The Difference Between a Bank Loan Officer and a Mortgage Broker Loan officers at a bank or a credit union are employees working to sell and process mortgages and loans for mortgage customers or home buyers like you. Their loan types and mortgage products have several varieties but they all come from one specific originator, their employers. At the rate with which home equity loans and credit lines are selling, it's easy to see that a lot of homeowners have succumbed to second lines in order to cover their bills. Some borrowers have taken advantage of loopholes in credit checks to sell their houses for more than what they're worth. Mortgage refinancing won't come easy for these types of people. This decreases their debt and increases the value of their home. With a reverse mortgage, everything works in the reverse. You have your home. You convert its value into cash. And then you take out that cash every now and then, thereby increasing your debt and reducing your home equity. Of course, this is not always the case with reverse mortgages.