subprime loan


A loan offered to an individual who does not qualify for a loan at the prime rate due to their credit history. If a lender thinks that there is an above-average risk involved in giving a loan to a certain individual, they will sometimes offer them a subprime loan, which has an interest rate higher than the prime rate. The subprime rate offered by the lender can vary from institution to institution.
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z
subprime mortgage ninja loan