In lending, conventional loans are granted to people with acceptable credit, income, and financial stability. The interest rate is tied to the prime rate. Subprime loans are at higher rates because the borrower doesn’t qualify for a conventional loan. If you’re referring to something else, I don’t know.
In ten years, I have never suggested that anyone go with a sub-prime loan. I tell them to rent until they can get a real loan. The term in real estate is called predatory lending, and it’s very descriptive.
In ten years, I have never suggested that anyone go with a sub-prime loan. I tell them to rent until they can get a real loan. The term in real estate is called predatory lending, and it’s very descriptive.
