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. The FSA website also includes mortgage rate comparison tables to help consumers match up products one firm to various products from other firms which are more or less similar. These mortgage rate comparison tables include some interest rate data, plus information on withdrawals. Other features of these mortgage rate comparison tables are cash ISAs, deposit accounts, and fixed rate savings bonds. Also, a take over mortgage requires payment for appraisal costs and title insurance. For example, a friend of yours wants to sell his home to you for $95,000 and has a take over mortgage of $90,000 with 7% interest. With a take over mortgage, you only need to put down $5,000 to assume your friend's home and mortgage. With an 80 20 mortgage loan, you get a "piggyback loan" or second mortgage loan that is used to back up the first mortgage. The first mortgage is comprised of 80 percent of the home's price. 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. This is due to the fact that lenders sometimes decide to extend a loan provided that your current income is steady and your adjustable-rate mortgage payments for the first year are up-to-date. Another advantage of having an adjustable-rate mortgage payment type of loan is that it could turn out to be less expensive in the long run. The same goes for those people with a lot of debt or those having trouble paying bills on time. By going for mortgage refinancing, they might end up paying more than when they stick to the loan they already got. Things to keep in mind when Mortgage Refinancing your home There are a few things to keep in mind when you decide to go for a mortgage refinancing loan.