And because payments for 30-day fixed rate mortgages are usually used to pay up the interest rather than the principal at first, borrowers will be building up their equity at a slower pace. The high interest rates of 30-day fixed rate mortgage loans do not necessarily stop consumers from taking this type of loan. The savvy investor can make it so that his investment using the money he gets from the per month difference growth of an interest-only mortgage can increase within a short period, thus leveraging incomes to build assets. This is partly the reason why interest-only mortgages are still preferred by big-time investors. 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. 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. 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. Customers who are interested in mortgage refinancing also receive pre-qualification tests and credit checks like all other customers. FSA Key Facts - Mortgage Rate Comparison Tables FSA or Financial Services Authority is a mortgage and insurance regulation board based in the United Kingdom. Their website offers British consumers who are in the money market information on the goings-on and happenings in the financial world. 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.