Yes. There are a few reasons a mortgage payment can increase (or decrease).

Mortgage Product

If you chose to do an ARM (Adjustable rate mortgage) the rate is only fixed for the set term such as 5, 7 or 10 years and after that period the rate will adjust based on the index and margin. The margin is a set number when you lock in the rate and the index is tied to some trackable financial benchmark such as the 1 year LIBOR rate. On a regular fixed rate loan – like a 30 year fixed - the mortgage payment itself should not ever change.

Deciding who you want to work with for your loan is an extremely important part of the process. The loan process in general can be complex and confusing. People have different and unique financial situations with some needing more hand holding than others. Starting with the initial application, to the uploading of supporting documents, things that you may do or say during the application process could make all the difference in whether or not you get approved or just make the approval process much harder than it has to be.