What's a sub-prime loan?
Or is it a sub-prime mortgage? Tagged as: loan, mortgage, prime, sub-prime |
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A subprime mortgage or lending is a loan given to individuals that are placed in the riskiest category of consumer loans due to bad credit ratings. Subprime loans are kept separate from prime loans, and the lender is required to give a higher interest than the typical prime rate.This Answer is: Helpful | Not Helpful | Report as Spam |
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