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What are sub primes?

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Anonymous

16y ago
Updated: 8/17/2019

Sub prime can be used in two aspects

1. Sub prime customer - A customer who does not have a great credit history and does not have the income to pay the monthly mortgage payments on the loan he is asking for

2. Sub prime Loan - A loan that is granted to a sub prime customer

If you have a monthly income of $10000 and you ask for a mortgage loan with monthly payment of $4000 then you are a good customer

If you have a monthly income of $4000 and you ask for a loan with monthly payment as $10000 then you would be a sub prime customer

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Wiki User

16y ago

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