No. It begins life as a sub-prime mortgage.

A sub prime mortgage is a type of mortgage in which you are paying a lower prime rate for the home you are buying. You could seek financial information from an attorney or financial rep.

Variable mortgage is used for things that involve mortgage such as a house. Every time the prime rate changes, so does the mortgage, therefore the mortgage is variable.

A sub prime mortgage is a mortgage that would be right for you if you are looking to pay a lower prime rate for your payment after buying your new home.

sub-prime mortgages