Because mortgage brokers do not work for only one company, they have more access to mortgages and loans. Greater suitability and better mortgage options are what mortgage brokers bring to their customers. For instance, your credit history is not that great. Banks generally reject mortgage applications if the credit score is below 670. Adjustable-rate mortgage payments have characteristics that might ultimately prove risky in the long run. Because the dynamics of interest rates in the market are never certain, the amount of your adjustable-rate mortgage payments are uncertain as well. Adjustable-rate mortgage payments generally have lower initial interest rates compared to fixed-rate mortgages. The second loan is only for 20 percent minus the down payment. 80 20 Mortgage Loans - Second Mortgage spells higher rates In most cases, the interest rate of the second loan of an 80 20 mortgage loan is higher that first. However, if you combine the two payments in an 80 20 mortgage loan, you get lower costs. Higher Interest Rates for Bad Credit Mortgage Loans It is only natural that high interest rates are charged for those borrowers who are on a bad credit mortgage loan. Handing out loans to borrowers with poor credit is a risky business and lenders want compensation for the risks they're taking. Bad Credit Mortgage Loan Limits But while rates are indeed high in bad credit mortgage loans, there are also limits to these. Payment Calculations for Second Mortgage Loans Before taking on second mortgage loan, be sure that you understand a couple of things first. Know how much your monthly payments will be for that second mortgage loan. Moreover, it is also helpful if you also have an idea as to where those second mortgage loan payments will cover. 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. On the other hand, the home buyers want the lowest possible interest rates on their bank rate mortgages.