A sub-prime loan is a type of loan that is offered to those individuals that have poor credit histories and/or have a relatively high risk of default. Sub-prime loans tend to be costlier in terms of closing costs, fees and APRs than traditional (prime) loans.
An Alt-A loan is a type of loan that is offered to those that don't qualify for prime loans, but who have a better risk profile than those in the sub-prime category. Alt-A loans are costlier than prime loans in terms of fees and APRs, however, they are not as costly as sub-prime loans.
Subprime loan rates usually are between 9% to 24% all depending on the variables presented. Subprime lending is usually granted to those who have less than perfect credit score.
Subprime Home Loans are for people who have a poor credit history. Therefore the rate depends on personal circumstance, how long the loan is for and what the credit history of the individual is like.
Subprime loans are offered to individuals with a credit score below 620. Such prestigious financial organizations as Chase Manhattan, BankOne, and Wells Fargo have begun offering subprime loans.
Subprime lending in finance means making a loan to someone who may have difficulty with the repayment schedule. Usually given to those who would otherwise not be eligible for a loan based on credit risk factors.
You can use a mortgage broker who can access a subprime lender database to locate lenders that meet your requirements. Once a lender is identified, complete the residential mortgage application and federal/state disclosures.
You will get the information about subprime bank loan from http://www.hitxp.com/world/09102008.htm website
Subprime loan rates usually are between 9% to 24% all depending on the variables presented. Subprime lending is usually granted to those who have less than perfect credit score.
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Subprime Home Loans are for people who have a poor credit history. Therefore the rate depends on personal circumstance, how long the loan is for and what the credit history of the individual is like.
The Term sub prime is usually used in the context of loans. A prime customer is one who has a very good history and can repay the loan comfortably during the agreed tenure. A subprime customer is one who does not have a good credit history and also does not have enough income to substantiate the loan payments monthly. The loans granted to a subprime customer is termed as a subprime loan...
The Term sub prime is usually used in the context of loans. A prime customer is one who has a very good history and can repay the loan comfortably during the agreed tenure. A subprime customer is one who does not have a good credit history and also does not have enough income to substantiate the loan payments monthly. The loans granted to a subprime customer is termed as a subprime loan...
Subprime loans are offered to individuals with a credit score below 620. Such prestigious financial organizations as Chase Manhattan, BankOne, and Wells Fargo have begun offering subprime loans.
Subprime has a couple different definitions. One definition is that subprime means being of less than top quality. Another definition is that subprime means a loan made to a borrower with poor credit rating, usually at high interest rates.
subprime loan
Subprime lending in finance means making a loan to someone who may have difficulty with the repayment schedule. Usually given to those who would otherwise not be eligible for a loan based on credit risk factors.
One can obtain subprime loans by first talking to experts at a bank for more information and a course of action. Many companies offer subprime loan options. One of these companies is Bankrate.
You can use a mortgage broker who can access a subprime lender database to locate lenders that meet your requirements. Once a lender is identified, complete the residential mortgage application and federal/state disclosures.