com, an 80 20 mortgage loan "allows people to buy without a down payment." An 80 20 mortgage loan is also for people who would rather leave their savings alone in buying a house. Most people who take on an 80 20 mortgage loans are usually young professionals. Hsieh further describe that these are "people who have gotten out of college and have good jobs. However, if you expect to keep your house for a bit longer, then it is advisable if you look into the market for fixed rate home mortgage rates. Adjustable rate home mortgage rates only work if you stick with it for a short while. Home Equity Loans The home mortgage rates for home equity loans follow the prime rate. It's just that rates might just be a little bit too high to give any room for savings or rates are not low enough to make mortgage refinancing worthwhile. Mortgage refinancing may also turn sour for buyers with good credit. Private mortgage insurance (PMI) and long loan terms can make mortgage refinancing a bad deal. Larger down payments can help you save up on your monthly mortgage rate payments. 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. A percentage of the closing fee you pay on a mortgage goes to the mortgage broker's personal funds. This, along with a few more fees, stands as their salary. Another thing is that mortgage brokers can be more resourceful than banks. Because mortgage brokers do not work for only one company, they have more access to mortgages and loans. As you know already, reverse mortgages do not require monthly paybacks. This means that with reverse mortgages, you are actually taking out equity from your home and turning it into cash. This does not bode well for your debt or your home equity for that matter. Here's how it works. Other mortgages require a person to make a down payment when buying a home.