Terms Beginning With 's'

Subprime Mortgage

  • January 15, 2020
  • Team Kalkine

Subprime Mortgage is a mortgage issued by lenders to borrowers with a low credit rating or a higher risk of defaulting on the loan. For this mortgage, the borrower is generally charged more interest than prime mortgage due to its higher risky nature. The interest rate in subprime mortgages is mostly adjustable-rate mortgages, in which the interest rate can be increased at any time.

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