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? Adjustable Rate Home Mortgage Contrary to a fixed rate home mortgage, an adjustable rate home mortgage is a home mortgage where the rates are adjusted regularly, usually after the first year is over. Adjustable rate home mortgages generally have lower interest rates compared to fixed rate home mortgages. Reverse Mortgage A home loan that you do not have to pay back for as long as you're alive or for as long as you live there? 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. Interest-only mortgage rates give you the chance to qualify for other loans, thus enabling you to buy more home or real estate properties. In an interest-only mortgage rate, your payment schedule is more flexible compared to other loan types. Most lenders of interest-only mortgage rates do not put any restrictions or penalties should you find it convenient to start paying off the principal loan balance. Some of these lenders are listed below, along with a brief outline on their variable rate mortgage product. Variable Rate Mortgage by ING Direct Mortgages The ING Direct line of variable rate mortgages offers one of the lowest rates available in the market today. 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. This makes interest-only mortgages compatible to "amalgam" adjustable rate mortgages. When the interest-only mortgage payment comes to an end your payment will then rise to include principal and interest. The great thing about interest-only mortgages Interest-only mortgage payments also have their advantages.