What is a subprime mortgage?

Answer A subprime mortgage is defined not by the type of loan but by the type of borrower. Subprime borrowers are people who can't qualify for the conventional mortgages and lower interest rates available... Read More »

Top Q&A For: What is a subprime mortgage

What is subprime mortgage?

A subprime mortgage is a mortgage loan that is made to individuals who have poor credit and who cannot qualify for a conventional mortgage.High RiskA subprime mortgage is offered to borrowers who a... Read More »

Where did the subprime mortgage begin?

Subprime loans started at Long Beach Mortgage, owned by Washington Mutual. Long Beach Mortgage stopped scrutinizing borrowers and started granting mortgages to almost anyone. Long Beach Mortgage bu... Read More »

Subprime Mortgage Policy?

A subprime loan is a loan that is higher risk for the bank and therefore has a higher interest rate to compensate for this risk. As of 2010, subprime loans make up around a quarter of all the loans... Read More »

Subprime Mortgage Requirements?

Subprime mortgages are a way to help potential homeowners with less-than-perfect credit qualify for a mortgage and purchase a home. According to an April 2007 story, about 15 percent o... Read More »