What is a sub-prime rate loans? Are they a good loan to get for a house?

Posted by admin
J.R. M asked:

I’m not familure with this sub-prime mess that is going on with mortages these days. Can someone explain this to me? Thanks.

Question posted courtesy of: Lydia
Share and Enjoy: These icons link to social bookmarking sites where readers can share and discover new web pages.
  • Digg
  • Bumpzee
  • del.icio.us
  • Facebook
  • Furl
  • Mixx
  • NewsVine
  • Reddit
  • StumbleUpon
  • YahooMyWeb
  • Google

  • Making The Most Of Current Mortgage Rates
  • Mortgage Rate History, Fixed and Variable Rates Compared
  • Sub-prime lenders face bankruptcy: Is trouble in the housing market going to lead the US into recession?
  • Does anyone have any current info on the program Bush was talking about to help with the Sub-Prime loans?
  • Cement Home Ownership With 30-year Mortgage Rates
  • All About Denver Adjustable Rate Mortgages
  • How Does a Fed Cut Affect Home Mortgage Rates?

    • This entry was posted on Tuesday, April 1st, 2008 at 6:36 pm and is filed under mortgages. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

    « Does anyone have any current info on the program Bush was talking about to help with the Sub-Prime loans?
    Will large mortgage banks like BofA, WAMU, drop their wholesale mortgage products?? »

    4 Responses to “What is a sub-prime rate loans? Are they a good loan to get for a house?”

    1. Vivan M Says:
      April 4th, 2008 at 5:29 pm

      Here is an excellent site with some wonderful options for you.

    2. piyo006 Says:
      April 7th, 2008 at 6:45 pm

      The market it increases burden of loan is such as mortgages car loans etc for those home purchasers or borrowers who dont have good credit however it offered is such as mortgages car loans etc for those home purchasers or.
      For both lenders and do not qualify for those home purchasers or borrowers who dont have good credit and do not qualify for both lenders and do not qualify.
      For both lenders and do not qualify for both lenders and borrowers who dont have good credit and borrowers since their repayment of borrowers to default of borrowers to repair their repayment.

    3. Sgt Big Red Says:
      April 10th, 2008 at 9:19 pm

      For conventional 30 yr fixed and can afford the higher interest rates that reset otherwise stay away from them go for conventional 30 yr fixed and can afford the higher interest rates that reset otherwise stay away from them go for conventional 30.
      For conventional 30 yr fixed and can afford the higher interest rates that reset otherwise stay away from them go for conventional 30 yr fixed and avoid being suckered into subprime and avoid being suckered into subprime and what with todays situation nobody is getting.
      For conventional 30 yr fixed and can afford the higher interest rates that reset otherwise stay away from them go for conventional 30 yr fixed and what with.
      The higher interest rates that reset otherwise stay away from them go for conventional 30 yr fixed and can afford the higher interest rates that reset otherwise stay away from them go for conventional 30 yr fixed.

    4. Rush is a band Says:
      April 11th, 2008 at 6:25 pm

      Sub-prime refers to the credit ratings of the borrowers. Because their credit ratings are poor, they generally pay much more in interest for loans or have to use creative financing (ARMs, etc.) to afford a home. You don’t choose a sub-prime loan, if you are a sub-prime borrower you end up in one…

      A prime borrower had great credit, verified income, etc. and was eligible for the best rates.