However, if you combine the two payments in an 80 20 mortgage loan, you get lower costs. You can see evidence of this just by comparing the cost of an 80 20 mortgage loan with the cost of a regular loan with PMI. The 80 20 mortgage loan usually costs less each month. 80 20 mortgage loans are structured by lenders in several ways. With a take over mortgage, you only need to put down $5,000 to assume your friend's home and mortgage. Along with the $5,000 take over mortgage down payment, closing fees are applicable. Another example is when one of your friends got a take over mortgage for $80,000 with 6.5% fifteen years ago. The take over mortgage loan balance left is $70,000. For borrowers with bad credit, the limit is usually four or five points on their bad credit mortgage loan. Larger Down Payments for Bad Credit Mortgage Loans Like interest rates, down payments for bad credit mortgage loans are higher than regular loans. This again points to the "risk" part those lenders of bad credit mortgage loans are taking. First, to get accurate information for your mortgage rate comparisons, see that any investment firm you are dealing is authorized. Second, do make sure that you know what you are looking for. Mortgage rate comparisons are a serious activity to be undertaken and should not be taken lightly. Mortgage rate comparisons will help you make your informed decision on loans. To see if you're suitable a certain mortgage product, they will look into your personal credit account and start the approval process for your transaction. Mortgage brokers on the other hand are professionals who are peddlers of mortgage products. They are the ones responsible for bringing together mortgage lenders and their borrowers. 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. 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?