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 »

What are Subprime Mortgage Rates?

A subprime mortgage rate is an interest rate given to a borrower with a low credit score, usually below 620. The interest rate charged is higher than that of a borrower with a high credit score.Sig... Read More »

What is a subprime mortgage underwriter?

A subprime mortgage underwriter crunches all of the numbers to determine if a subprime mortgage applicant qualifies for a loan. In other words, the underwriter qualifies or disqualifies an applican... 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 »