You can get the best possible mortgage rate with a down payment that is greater than 20%. Higher mortgage rates are expected if the down payment is less than 5% since the beginning equity is smaller and provides less collateral. Discount points are another way to move mortgage rates. Lower mortgage rates usually means higher points paid on your loan. With take over mortgages, the interest rate and the monthly payment schedule is assumed by you. This means you can save a lot with take over mortgages, especially if the interest rate on the existing loan is lower than the current rate on new loans. However, lenders can change the loan terms of take over mortgages so you must be prepared for that. This means that home mortgage rates of home equity loans are directly affected by the cut backs on fed rates. However, home mortgage rates for home equity loans have always been perceived to be higher than the home mortgage rates of other loan types. Find a home with the Lowest Home Mortgage Rate Once you understand the advantages of each type of mortgage - whether a fixed rate or adjustable or a home equity loan, the next step of the process is finding yourself a home. Higher interest rates mean higher monthly adjustable-rate mortgage payments for you. There is no middle ground. Adjustable-rate mortgage payments are basically a trade-off - you exchange more risk for lower rate with an adjustable-rate mortgage payment. But despite this, there are some ways to circumvent the risks and increase your chances of landing a good investment in an adjustable-rate mortgage payment. So, if you were to get a second mortgage loan of $10,000 with an eight-point fee, then you would have to pay $800 in "points." 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. This is especially true for mortgage refinancing when closing costs start rolling in. A second thing that affects mortgage refinancing is the borrower's loan qualifications and credit line. A positive credit history would spell good news for mortgage refinancing. However, if credit is bad or if the relationship between debt and income is skewed, then mortgage refinancing is not the right option.