Many people admit that it is very difficult to find mortgage loans at reasonable rates of interest. A person with a good credit score would manage to get a lower rate of interest on his mortgage than his friend who has a poor credit score. This is because the lenders believe that the risk of lending to a person with a poor credit score is more and to cover their risks they peg their interest rates a bit higher. Another factor also greatly influences the interest rate that a person would pay on his mortgage loans. If a person has a regular income and can prove that his disposable income would be adequate to make prompt repayments then the lender would consider that his risks are considerably lowered and would charge only a lower interest. For people already paying a high interest on their home mortgages an excellent alternative would be the home equity loans. When you are able to get a home equity loan from a good lender you will make great savings in the monthly installments that you pay. This would be available to you if you have already repaid a substantial part of the mortgage loan and have added equity into your house.