Terms Beginning With 's'

Subprime Loan

  • January 17, 2020
  • Team Kalkine

Subprime Loan is like Subprime Mortgage, wherein the loan is given to borrowers with low credit ratings at a higher prime rate. Mostly subprime borrowers are turned down by the lenders due to the possible chance of defaulting on the repayment of debt.

Also, subprime interest rate generally varies with the lenders; therefore, it is always wise to do some research before choosing a lender.

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