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Subprime Mortgages

Subprime is a term referring credit and loan products with high risk characteristics.

This term also refers to credit as B & C credit.

With less than perfect credit history, such as Bankruptcies, Collections, Judgments, and fico Score below the national average.

Compared to prime loans, subprime usually gets charged a higher rate and more closing costs on a loan.

Countrywide is a known subprime lender but they also have a prime division as well.

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Contributed by JustinSMV on March 9, 2008, at 4:31 AM UTC.

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